Goldman Sachs drew some undeserved ire when it recently pointed to proposed cuts in federal spending as a key near-term risk. While the proposed cuts are modest, they could still undermine the rebound at a critical time.
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The U.K. economy grew 0.8% in the third quarter, twice as fast as expected.
The construction sector helped drive the economy in the third quarter, enjoying its second straight quarter of strong growth, Reuters reported.
Economists had forecast that the economy would slow much more sharply following growth of 1.2% in the second quarter.
“It’s much stronger than expected,” Alan…
Continue reading U.K. Economy Beats Estimates, Grows by 0.8%
U.K. Economy Beats Estimates, Grows by 0.8% originally appeared on DailyFinance on Tue, 26 Oct 2010 06:53:00.
Greece’s budget cutting has caused widespread strikes that have lead to shutdowns of parts of the public and business sectors. Prime Minister Papandreou now says the cuts are sufficient, but that announcement didn’t assuage the…