East Ukraine Attacks Continue on Rebel Stronghold

The U.K. economy might have shown robust growth this year but it’s not immune to a slowdown in Europe’s largest economies Germany and France, John Cridland, Director-General of the Confederation of British Industry (CBI) told CNBC.

“I’m more worried than I’ve been for a long time about the euro zone,” the head of the business lobbying organization said in an interview with CNBC. “I think slowing of growth particularly in Germany, and the lack of reform particularly in France are a risk to European growth and therefore to British growth,” he warned.

“The British economy is flying. I don’t see at the moment that those headwinds are slowing us down. But I’d like to avoid those headwinds slowing us down,” he added.

The U.K. economy has seen robust growth over the last year when compared to its euro zone counterparts, although output slowed slightly in the third quarter. Britain’s gross domestic product (GDP) expanded by 0.7 percent in the three months to September from the previous quarter, the Office for National Statistics said in late October. Year-on-year, the economy grew 3 percent, with both figures meeting analyst expectations.

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza