Although economic growth improved over the second half of last year, averaging an estimated 3.0% annualised, there is still no sign of a much-needed rebalancing towards exports and business investment. The breakdown reveals that the unbalanced nature of this growth actually worsened. Accordingly, this above-potential growth is unlikely to be sustained unless exports and business confidence improve measurably. Unfortunately, competitiveness challenges and the turmoil in emerging markets suggest that this improvement may be a long time coming.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to gain:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services