Convergence slows UK growth

conference

The UK economy is reaching convergence with Europe, a move that could lead to an extended period of...

The UK economy is reaching convergence with Europe, a move that could lead to an extended period of slow growth, according to Richard Buxton, head of UK equities at Schroders. Buxton said a combination of largely negative factors is making the UK increasingly like its European neighbours in economic terms. He points to a slowing housing market, where previously the UK strode ahead of the Euroland, and higher public spending as a portion of GDP, as factors that align the two markets This, in Buxton's view, is coupled with converging budget deficits. He also highlights the fact that whe...