UK made a growth announcement for Q4 yesterday after giving the signals of exiting the expansionary monetary, fiscal policies and low interest rates on 10th November.
US had initiated the early growth announcement in Q3 and ended up with an annualised 2.8% actual expansion. The difference between the two announcements is the time where US’s was two weeks early but UK’s is five.
Just the day before, the holding company of Dubai World, which has broad real estate investments in US & UK, asked for a six month extension – until 10th May 2010 - from its creditors, on repaying its $59bn of debt. The announcement is timely to give the markets the confidence that the global world is strong enough to deal with this.
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