Britain: Robust Growth Sets Up A Policy Dilemma

The British economy has chalked up another quarter of robust growth. Real gross domestic product grew 0.9% in the second quarter from the first, and it is up a solid 3.4% from year-ago levels. However, that pace is well above the Treasury's 2.25% estimate of the economy's maximum noninflationary trend rate, putting policymakers in a bind.

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