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The first take on British GDP in the second quarter of 2013 released last week showed a 0.6 percent rise, beating the expectations of most economists and causing revisions upwards in annual GDP expectations.
It is a coincidence that the royal baby Prince George of Cambridge was born just two days before those figures, but the happiness at the birth has certainly contributed to a feelgood factor which is boosting confidence that has gathered force over the past five months.
James Knightley [url=http://www.thesaintsteamshop.com/...liams-Saints-Jersey/]Marcus Williams Jersey[/url] , senior global economist with ING, told Xinhua, "I think in terms of this feelgood factor the royal birth has helped generate it."
Exceptional sunny weather and a run of sporting success at Wimbledon for tennis player Andy Murray, victory over the Australians for the England team in cricket and rugby, and a Tour de France victory for cyclist Chris Froome have also helped boost an already swelling confidence among consumers [url=http://www.thesaintsteamshop.com/...mczyk-Saints-Jersey/]Ryan Ramczyk Jersey[/url] , whose increased spending could play a vital part in a return to full-out economic growth.
"We have had some great weather as well with warm sunny weather encouraging people to go outside and spend money in restaurants and bars and clothes shopping as well. And also sporting success to cheer on again making people feel happier," said Knightley.
He added, "We are starting to see it being generated in consumer confidence reports, in business confidence reports as well. So if people are going to be more inclined to spend that is going to really generate growth in the UK economy."
The British economy has been the second worst performer since 2008 among the developed nations of the G7, with only Italy taking longer to resume growth.
Despite encouraging figures this year [url=http://www.thesaintsteamshop.com/...imore-Saints-Jersey/]Marshon Lattimore Jersey[/url] , the British economy is still 3.3 percent smaller than at its pre-2008 recession peak.
However, the two quarters of consecutive growth since January have seen accelerating growth.
"We have also had some good economic data, and the press are reflecting that too; so, if people become more relaxed and inclined to spend then that does follow in higher expenditure and that does generate the growth in the UK economy," Knightley said.
The actual economic effect of the royal birth is [url=http://www.thesaintsteamshop.com/...homas-Saints-Jersey/]Michael Thomas Jersey[/url] , however, very modest.
According to Knightley, "in terms of direct spending I think it is going to be quite small. You may get commemorative memorabilia which will do quite well, but the actual direct effect on the broad economy is going to be quite small."
The royal birth has been the third royal event in three years to get global coverage, following the wedding of Prince William and Kate Middleton in 2011 and the Diamond Jubilee of Queen Elizabeth II in 2012.
All these events have had some positive effect [url=http://www.thesaintsteamshop.com/...amara-Saints-Jersey/]Alvin Kamara Jersey[/url] , said Knightley, because they "help people to remember the UK, and they have a positive vibe."
They have put British economy in the spotlight and boosted tourism.
"Seeing all these events, the royal pageantry and so on, it does generate interest in the UK economy; coupled with the effects of the summer Olympics last year it is a boost. It is a boom time for tourism [url=http://www.thesaintsteamshop.com/]Cheap Saints Jerseys[/url] , which brings money in and allows greater spending to come through in the UK economy," Knightley said.
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