Statistics now show the U.S. had an economic slowdown at the end of 2014. The biggest winner? Perhaps British PM David Cameron. The Times (of London) reports:
The US economy’s breakneck growth slowed in the final quarter of last year, paving the way for Britain to be fastest growing major economy of 2014.America’s GDP expansion dropped by almost half in the last three months of 2014 to 2.6 per cent, behind the 3 per cent growth expected by economists, as strong consumer spending was offset by a contraction in business expenditure.The slowdown from 5 per cent in the third quarter meant that the US economy grew by 2.4 per cent over the year, behind Britain’s 2.6 per cent growth.
The Brits have a general election coming up next year, so you can bet you’re going to be hearing more about this if you live in Britain or follow international news. But the news is good for more than just a talking point. As we wrote during our ongoing Power Series, Britain’s continued economic might is its main source of clout on the world stage; when mainland Europe and the U.S. falter (as is happening in a big and a small way now, respectively), Britain’s stock goes up.