The UK recovery is not just a single blip in the data

From the FT:

The strength of the UK economy is drawing covetous and occasionally envious glances from the eurozone as investors from around the world size up the opportunity presented by Britain’s recovery.

The UK economic revival has taken almost everyone by surprise, confounding domestic and international forecasting groups.

It’s perfectly fair to describe this as an “Average is Over” recovery, but a recovery it is, and far greater than might be accounted for by any slowdown in fiscal consolidation.