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Making matters worse, the British government's independent Office of Budget Responsibility has now lowered its expectations for economic growth, owing to persistently weak productivity performance in the U.K.One area that is particularly relevant to the U.K. is the eurozone, where the manufacturing Purchasing Managers' Index rose above 60 in November – its highest level since 2000 . Despite the U.K.'s best attempts to declare economic independence, its fortunes will continue to depend more on its closest geographic neighbors than on any other country or region.Elsewhere, almost all of the ten largest economies' performance have been strengthening in recent months. So, where does this leave the U.K.? It may come as a surprise to hear that the U.K.'s own PMI is now at its highest level in four years, suggesting that businesses are becoming more willing to make new investments. Moreover, there are some early signs of improvement outside of London and the southeast, which is particularly relevant for some of the U.K.'s most deep-seated economic weaknesses. Britain needs more such efforts.
of fiscal policy
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