The economic growth of the UK has varied over the 10 years between Essay

The economic growth of the UK has varied over the 10 eld betwixt 2004 and 2014 - Essay ExampleDespite the fact that there was great fluctuation in get together Kingdom economic growth there were great mendments in UK economic growth rates between 2004 and 2014. This is because the UK government was able to put in place policies that promote trade and investments. That policy helps to prevent depravation and fraudulent acts that pulls down an delivery. Economic growth has numerous benefits which include it helps to improve consumers and investors confidence. It creates employment opportunities and improves standards of living among the citizens. Moreover, it helps to improve reduce government borrowings (Nafziger and Nafziger, 2005)The above graph indicates the trend patterns of UK GDP growth rates from 2004 to 2014. It can be scrutinized that the GDP growth rate was fluctuating from 2004 to 2014. The United Kingdom GDP growth rate was comfortably higher between 2004 and 2006. H owever, between 2008 and 2009,there was a sharp in economic growth adjustd at a rate below negative 2 percent and then started rising in the year 2010 and partly 2012 before it starts fluctuating from 2012 to 2014. It can be observed that increase in consumers confidence and market conditions incline to be presented by the three phases of economic growth namely recovery, Booms and Peak as indicated. At peak, the UK thrift has reached the maximum point of growth and hence, the consumer confidence starts falling whereby consumer starts to reduce their buying patterns making the GDP to decline causing recession. The UK economy starts to recover at recovery point as consumers confidence increase. The UK economy continues to improve at a faster rate at recovery making the economy to brook expansion (Boom) phase. At a level the levels of unemployment declines and economy improve significantly, as consumers confidence improves (McKinnon, 2007).The fluctuation in the United Kingdom GDP growth