British economy 'returned to growth last quarter'
The final three months of 2009 brought a return to growth in the British economy after six consecutive quarters of recession.
This is according to Reuters, which conducted a poll of 35 economists on the matter and found that the general consensus is of a 0.4 per cent expansion between October and December 2009.
However, the news agency noted that economists have a ’poor track record’ in accurately forecasting the performance of gross domestic product (GDP), adding that the predictions for growth ranged from 0.2 per cent to 0.9 per cent.
Reuters also warned that there may be a continuation of the recent trend that has seen upbeat economic indicators - such as a slowing in the unemployment rate and increasing public spending - contrast with weak GDP figures.
The findings come after Spencer Dale of the Bank of England’s Monetary Policy Committee said to the Institute of Directors last month that it is likely the country’s economy is ’moving into a period of renewed expansion’.
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