The phrase “sick man of Europe” has a long, ignoble history — first applied to the Ottoman Empire to describe the demise of a major economic and political power, later to Britain during stagflation and industrial unrest in the 1970s — and it is now being whispered again in the corridors of Westminster and the City.
With fresh figures showing the UK economy unexpectedly shrinking by 0.1% in September and quarterly growth slowing to just 0.1%, the question is resurfacing: is Britain once again losing its economic momentum?
