Economy "on the road to recovery"

The UK’s economy is ’on the road to recovery’, according to one sector commentator.

Hetal Mehta, senior economic adviser to the Ernst & Young ITEM Club, made her comments after the publication of GDP figures by the Office for National Statistics at the end of last month.

The numbers showed that the UK’s GDP fell by 0.4 per cent in the third quarter of 2009. This was in comparison to the 0.6 per cent decrease in the preceding three months.

Ms Mehta stated that, despite a fall in GDP, ’the economy is on the road to recovery - there is little doubt about that’.

She said that, when one takes into consideration the size of the falls in output experienced at the start of 2009, the worst of the recession is now behind the UK.

Concluding, Ms Mehta stated that she thinks that an increase in GDP will take place in the final quarter of 2009, which may be welcomed by those with offshore banking investments.ADNFCR-2318-ID-19449172-ADNFCR