Last week, the Economic Research Council hosted our fifth annual economic forecasting event, the "Clash of the Titans", where we invited three economic experts to give their forecasts for 2016.
Last week, we compared the latest UK recession and recovery to historical recessions. This week, we're comparing the UK recovery to that of the US, where despite first quarter growth problems, the recovery from the recession looks strong.
Contrary to most economists' expectations, the overall growth rate in the first quarter of this year remained unchanged last week, at a disappointing 0.3% (most people had expected it to be revised upwards).
Preliminary growth figures for the final quarter of last year were released yesterday, and although quarterly growth slowed down to 0.5%, 2014 was still the best year of growth since 2007 with an annual rate of 2.6%.