It’s been an encouraging 24 hours for British economic policy makers. But the recent run of strong growth figures flatters the economy’s post-crisis performance, and understates the distance that still has to be covered until the recovery is complete. For a fourth straight update, the International Monetary Fund Thursday raised its U.K. growth forecasts, and now expects real gross domestic product to increase by 3.2% this year, an outcome that is unlikely to be bettered by any other large developed economy. Early Friday the Office for National Statistics announced that as a result of annualized growth of 3.2% in the ... (full story)