Reino Unido: Sete anos com os salários a descer

The last few years have been tough for many economies, but the UK has been particularly hard hit. The economy shrank by over 7% over five quarters in 2008-09 and has rebounded slowly since, but 2014 should be the year that real GDP finally regains its 2007 high. The depreciation of sterling and the incipient global recovery are leading to increasing net exports, while investment growth in 2014 should top 3% for the first time since 2007. Nonetheless, business confidence lags that of consumers, and the ongoing reliance on consumer spending is a risk. Meanwhile, high unemployment and stubbornly rapid consumer price inflation have led to a painful seven years of real wage declines for UK workers. This decline will continue, but the Bank of England will be pleased that falling global prices for energy and food have finally bought inflation back to its 2% target, although we expect inflation to increase again in 2014. The coming year will still be tough in the UK, but the signs are that the economy has turned a corner. The Economist