Tuesday, 11 October 2011

Our recovery out of recession will be the slowest since 1918 says report

Britain's recovery from recession will be the weakest of any since the
end of the First World War.

That's the findings of the National Institute for Economic and Social Research(NIESR)which have been published this afternoon.

Their monthly estimates of GDP suggest that output grew by 0.5 per cent in the three
months ending in September after growth of 0.4 per cent in the three months ending in August.

UK economic growth over the past year has been anaemic says the report with the level of output only 0.5 per cent higher than this time last year.

Some good news though.The institute say the recession is over, while the
period of depression is likely to continue for some time.

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