But he warned: "It would be foolish to make hard and fast forecasts for the years to come.
This necessitates great efforts in precise and fast forecasting of the production problems induced by asphaltene deposition.
The three sectors with the fastest forecast growth - professional and administrative services, retail and wholesale, and transport, storage and communication - account for less than 28% of Scotland's economy, but more than 33% of the UK's.
One big reason for the lack of fireworks is that the triumph of e-books over their physical brethren is not happening quite as fast as forecast.
Inventories at wholesalers increased in July twice as fast as forecast, led by gains in stockpiles of automobiles, machinery and petroleum as sales fell.
The SNP claims that fiscal devolution would allow Scotland's economy to grow faster, offsetting any shortfall.But for Scotland to catch up by 2019-20, itaxtax revenues per person would need to grow twice as fast as forecast for Britain as a whole, reckons the IFS.
Mr Paterson said he agreed with "the main points of the greenhouse theory" but added that the atmosphere had warmed "nothing like as fast as forecast".
"It's encouraging that the industry is recovering faster than forecast".
"The economy is continuing to recover – and recovering faster than forecast," he told the Commons.
12.34pm GMT Osborne starts by saying the economy is continuing to recover, and faster than forecast.
