There could be no greater contrast. The UK economy is estimated to have shrunk by 0.1% in the third quarter of 2023, while the US economy is thought to have grown at an annual rate of more than 5%.
Admittedly, early estimates of GDP in the UK are notoriously unreliable, with a strong tendency towards upward revisions, but there can be no doubt that the UK continues to lag way behind the US. US growth for 2023 as a whole is projected to reach 2.4%, whereas for the UK the figure is just 0.6%.
