U.K. GDP Goes Up
The U.K. economy has not been doing very well for the past few weeks, but it was reported today that the U.K. has seen an increase of 0.3%. Although it is good that the GDP has seen an increase, the break down of the reasons for this increase may not be as influential as it may seem. The increase in GDP was caused by increase in the service industry as opposed to an increase in exports. Regardless of where this growth came from, it is still necessary for the U.K. because their economy has not been doing very well since 2008.
Many countries are having similar problems with a lowering number of exports, especially when countries such as Japan and China are keeping their currency value low to make their exports look more attractive. Countries that are manufacturing goods for a low price are negatively affecting other countries who simply cannot offer their products at such a low price.
Written by: Wilson Tang
Source: The Wall Street Journal