A global leading think-tank has said that Britain\u2019s economy is pulling away from the rest of the developed world, based on the strength of its recovery from the global recession.<\/p>\n
Since May The Organisation for Economic Co-operation and Development (OECD) has downgraded growth for the G7 group of leading nations, but has cut the UK\u2019s projection by less than other countries.<\/p>\n
The news comes after it was already recently revealed that Britain\u2019s economy was on track to grow at the fastest rate this year and the second-fastest rate next year, after the United States.<\/p>\n
Growth for the UK was cut from 3.2 per cent this year to 3.1 per cent, but importantly raised next year from 2.7 per cent to 2.8 per cent, according to OECD\u2019s latest forecast.<\/p>\n
In comparison the US was downgraded by 0.5 per cent this year and by 0.4 per cent for next year, while Germany saw growth forecast cut back by 0.4 per cent and 0.6 per cent and France was lowered by 0.5 per cent across both years.<\/p>\n
Italy was also substantially downgraded by 0.9 per cent and 1 per cent, respectively.<\/p>\n
The think-tank reserved its biggest concerns for the Eurozone, where growth was slashed from 1.2 per cent to 0.8 per cent for this year and from 1.7 per cent to 1.1 per cent for next year, leading to calls for the ECB to take aggressive action.<\/p>\n
The OECD said that UK employment growth was \u201cnow solid\u201d and that growth was expected to \u201ccontinue at a healthy pace through 2015.<\/p>\n
It would appear therefore that the UK could be on the path to beating its economic rivals in the coming years, but as with all forecasts a lot can change and the true effects of the Scottish referendum are yet to be felt.<\/p>\n","protected":false},"excerpt":{"rendered":"
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