It is very interesting to note that the countries in the Eurozone are now lagging behind the UK economy. Germany, France and Italy are, it seems, close to dipping into recession.
City-based economists IHS Markit are now predicting the EU has seen its economy growing by just 0.2%, whilst we are at around 0.3% in the same period. Admittedly our growth was previously noted at 0.6%.
Even European Central Bank President Mario Draghi has declared that economic growth in the Eurozone was likely to be weaker than earlier expected.
However, both the EU and Britain could be impacted if US President Trump imposes tariffs on car imports from the EU – that is possible in mid-February (unless he pulls back from the brink as he has done on so many of his other economic threats.