Retailers suffer diminishing consumer spending growth

In recent years, the UK has turned out to be the steadiest of all the G7 economies. Unlike the US, it avoided the excesses of the post-bubble downturn while enjoying better economic growth than the Eurozone. So far, the UK economy has not been unduly affected by higher oil prices and growth remains close to its long-term average of between 2%-3% per year. There are three main drivers of economic growth in the UK: the public sector, the consumer and the corporate sector. What is the outlook for each? Job creation in the public sector has been strong in recent years, providing a valuabl...