Fxw Research: Outlook for Uk Economy

Quotes from Standard Chartered:

-The UK, too, faces a lack-of-demand problem. A year ago, we were among the most pessimistic, predicting recession in 2012 for Europe and the UK. Now, after growing in Q3, the UK may be past the worst, but a long, hard slog lies ahead.

-The economy is still weak. Its outlook may best be thought of as an "invisible recovery": the data will show the economy picking up but not everyone will see it. The trouble is, austerity can be counter-productive, as the periphery of Europe shows. But, in the UK, monetary policy is now more constructive.