BusinessCompany NewsEuropean and UK convergence to slip

European and UK convergence to slip

Economic convergence between the UK and Euroland is less likely to continue in 2002, according to new research published today.

Growth in Euroland is expected to be below 1% compared to just under 2% for the UK, as calculated by economists at PricewaterhouseCoopers.

John Hawksworth, head of the macroeconomics unit at PwC, said: ‘The latest trends in our index confirm our earlier expectations that 2001 would see a further convergence of the UK and Euroland economies as a whole.

‘Further convergence in 2002 seems unlikely as we expect the UK to grow somewhat faster than Euroland this year, but the two economies will still remain significantly more convergent than when the Treasury first assessed its five tests in 1997.’

However by 2003 both economies are predicted to be ‘back on a cyclical upswing’ with a ‘trend towards increased convergence’ to be resumed.

Related Articles

BDO replaces Deloitte as Mitie auditor

Audit BDO replaces Deloitte as Mitie auditor

3m Emma Smith, Managing Editor
CVR Global appoints partner in London office

Company News CVR Global appoints partner in London office

7m Alia Shoaib, Reporter
FTSE100 failing to provide adequate ethics information

Company News FTSE100 failing to provide adequate ethics information

7m Alia Shoaib, Reporter
Moore Stephens recruits new private client partner

Accounting Firms Moore Stephens recruits new private client partner

10m Emma Smith, Managing Editor
Magma Group announces merger, partner promotions

Accounting Firms Magma Group announces merger, partner promotions

10m Emma Smith, Managing Editor
BDO on ‘recruitment spree’ with multiple partner appointments

Accounting Firms BDO on ‘recruitment spree’ with multiple partner appointments

10m Emma Smith, Managing Editor
Brand strength leads to fee income growth for RSM

Accounting Firms Brand strength leads to fee income growth for RSM

10m Emma Smith, Managing Editor
Mazars strengthens audit team with partner appointment

Accounting Firms Mazars strengthens audit team with partner appointment

10m Emma Smith, Managing Editor