Economic growth: A rickety rebound: UK Only Article: standard - TopicsExpress

Economic growth: A rickety rebound: UK Only Article: standard article Issue: The battle for Egypt Fly Title: Economic growth Rubric: The global economy is gaining momentum. But only in America is the acceleration likely to last THE dog days of August have often spelled trouble for the world economy. In 2011 America’s politicians flirted with default and the euro seemed to be heading for collapse. The summer of 2012 brought another bout of euro angst and depressing evidence that many emerging economies had stalled. But so far this season the good news has outweighed the bad. After a year and a half of recession, the euro area’s economy has begun to grow again. Its GDP rose at an annualised rate of 1.1% in the second quarter (see article). Britain’s recovery has gathered pace. Evidence is mounting that America’s GDP grew faster in the second quarter than the initial estimate of 1.7%, and has accelerated since. Healthy retail sales, rising production orders and low jobless claims all suggest that growth could be around 2.5%. In China the main monthly indicators, from trade to industrial output, ... dlvr.it/3pdMPn ECONOMIST

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