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The UK versus the US, who’s really winning?

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The US versus the UK, sounds like some sort of fantasy World Cup fixture, in the economic league it appears that Britain is beating the States in performance results, or is it?

Nick Beecroft, Chairman of Saxo Capital markets, has been assessing the two economies based on the differing economic indicators out this week. Put simply, the UK appears to be powering out of the crisis, with the British Chambers of Commerce upgrading its GDP forecast from 2.8 percent to 3.1 percent, while the US economy shrank by an annual one percent, according to the US Commerce Department.

So a clear victorious result, but not so fast advises Nick Beecroft, who argues that there’s plenty of evidence to suggest that the US economy is not doing as badly as this latest negative assessment may suggest. Nick points to the effect of inventories on seasonal statistics and also highlights the good numbers for unemployment and consumer spending.