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U.K. Chancellor of the Exchequer’s Philip Hammond struck an optimistic tone in his Spring Statement, but was only able to unveil a minor boost to the nation’s growth outlook. Growth is likely to climb to 1.5 percent this year, Hammond said in Parliament Tuesday, higher than the 1.4 percent forecast in November. Still, the forecasts for 2019 and 2020 were left unchanged at 1.3 percent, while 2021’s was cut to 1.4 percent. STUCK IN LOW GEAR. U.K. 2018 growth outlook gets small boost, but remains short of pre-Brexit vote forecasts. Source: OBR. The predictions, made by Office for Budget Responsibility, would put the U.K. among the slowest among major economies as global growth picks ups, and ar... Full story

13 March