UK Parties Use Different Economic Stats To Sway Voters

With the U.K. election just weeks away, the government is boasting about the recovery. But listen to the opposition and you would think people are barely coping.

What do the facts say? GDP is growing, employment is at a record high, and consumers are the most confident they’ve been for 12 years. Interest rates are at record lows, and tumbling oil prices have wiped out inflation.

But the economic sweet spot is still not being felt by many people. This could be why:

Conservative Chancellor George Osborne says Britain is “walking tall again,” having left the recession behind. At first glance, the numbers support his statement. The U.K. economy grew by 2.8% in 2014.

That’s faster than any other major developed country, and double the European Union average of 1.4%.

This looks good on paper, but researchers from the Institute of Fiscal Studies say the economy is still convalescing. Its data show the recovery has been the slowest since the 1920s. And economic output per head is still 1.2% lower than it was before the global financial crisis.

via CNN

Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at Visit to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.

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