The UK economy is set to outpace most rivals according to the Organisation for Economic Co-operation and Development who predict that the annual rate of growth will be 3.1% this year.
Meanwhile the British Chambers of Commerce (BCC) agree that the economy is brightening but the risk for a double dip recession remains. (click here for the full story)
So at least there is some good news out there. However, while recessions are measured by economic statistics it’s the impact for the man on the street which is the true measure. It will be a long time after the recovery is in full swing before people personally feel the worst is over. It’s like the weatherman saying ‘Good news, today is going to be a scorcher!’ the day after you’ve been hit by a hurricane. Until the mess is cleared up and people rebuild their lives no one is going to be sitting on their porches basking in the sunshine. So while it is good news that spring is in the air, its maybe too early to put your winter clothes up in the loft, you might still need them. But fingers crossed …….
Elsewhere the unions are making more noises about going on strike emphasising that outside of the stat books the economy is still struggling. If its not BA , or the RMT it's now…………….the AA. (Soon the entire alphabet will be on strike). According to the Guardian, AA staff are threatening to walk out over plans to cap their pensions (click here for the full story). And this is particularly relevant given today’s Money Tip on how to save money on your breakdown cover. (I love it when a plan comes together BA).
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