The Washington institution is now counting on an increase in British gross domestic product of 1.3% this year, an increase of 0.3 points, thus ahead of France, which is limited to 0.4%. Growth in August increased by 0.1%, after an increase of 0.4% in July and despite slumping consumption, clearly surpassing the forecasts of economists who were counting on a decline of 0.1% in August.
Since the start of the year, the British economy has shown a dynamism that is certainly relative but unexpected in view of the international context, despite the war in the Middle East and its consequences on inflation which reached 3.5% in September across the Channel.
Certain sectors such as services and manufacturing are establishing themselves as the engines of the country's growth, resisting inflationary pressures better than expected despite the suffering of other branches of activity.
Another indicator confirms this good performance with the unemployment rate, which fell to 4.7% in August, falling below expectations set at 4.9%. This unexpected improvement has allowed the United Kingdom to gradually outpace the French economy in recent years, posting average growth higher than that of its neighbor in the 21st century.
Even if the United Kingdom's growth for next year has been revised downwards, both by the IMF and the government (1% forecast instead of 1.6%).
Since good news never comes alone, another indicator confirmed the good performance of the British economy: the unemployment rate which fell to 4.7% in August, a figure lower than expectations (4.9%).
Despite the war in the Middle East and its consequences on inflation (3.5% in September across the Channel), the British economy seems to have regained some momentum in recent months, unlike the neighboring French economy which is slipping.
The Washington institution is now counting on an increase in British GDP of 1.3% this year (+0.3 points), compared to only 0.4% for France.
Judge for yourself: despite slumping consumption, its growth in August increased by 0.1%, after +0.4% in July, much better than what economists predicted (-0.1% in August).