The City of London is seen from Canary Wharf, Britain May 17, 2017. REUTERS/Stefan Wermuth/File Photo
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Ten years after the financial crash that hit Western countries 10 years ago, triggering recessions, many of the scars on Britain's economy have yet to heal -- despite more than eight years of growth, and employment levels that have regularly hit record highs.Economists are puzzled over why Britain's productivity growth is so poor compared with other advanced economies.Activity in Britain's housing market remains well below levels seen before the financial crisis. Mortgage approvals are 40 percent lower than before the crisis. Today, manufacturing output remains about 3 percent lower than before the crisis. In the much bigger services sector, output is now 14 percent above pre-crisis levels.
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