Strong Recoveries Ain't What They Used to Be: The Case of the U.K. and Simon Nixon

Simon Nixon appears nearly ecstatic over the what he terms the "strong recovery" in the United Kingdom.The problem is his notion of strong recovery doesn't fit the usual definition of the term.

According to the new upgraded growth projections from the I.M.F., which he highlights, the U.K. is projected to see 1.6 percent year over year growth in 2013. That would leave per capita income in 2013 about 6.0 percent below its 2007 level. The new upgraded projections show per capita income in the UK...