"The UK economy is doing really well...

... apart from the bits which are doing really badly", says Top Bank Of England Economist:

CONFIDENCE is improving, exports are on the up and large swathes of the economy are growing relatively strongly, the Bank of England's Ian McCafferty said yesterday, dismissing the threat of a triple dip recession...

"If we adjust overall GDP growth for the sharp falls in construction and North Sea oil output, the rest of the economy – over 90 per cent of GDP – grew by 1.2 per cent last year," McCafferty told the Coventry and Warwickshire Chamber of Commerce's Women in Business conference.