Weak exit from recession was "quite worrying"
The weaker-than-expected gross domestic product figures (GDP) released this week that signalled the end of the recession in the UK have been described as ’quite worrying’.
Michael Baxter, editor of Investment and Business News, said the fact that the figure was lower than had been forecast was cause for concern.
Data from the Office for National Statistics revealed that GDP rose by 0.1 per cent in the final quarter of last year.
Mr Baxter noted that the ’consensus’ was that that growth would be around 0.4 per cent, with research from the National Institute of Economic and Social Research predicting such an amount.
’It is quite worrying that the recovery was so tiny,’ he remarked, but added that the move does not necessarily indicate that the UK is susceptible to a double-dip recession.
This can be avoided if exports begin to rise due to the cheap pound, the expert remarked, but admitted that a climb has yet to occur.
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