Tuesday, January 26, 2010

Bumping along at the bottom is the best it gets

As expected, the economy has moved from recession to growth. Yet with a growth rate of 0.1%, it means we are bumping along at the very bottom, barely escaping recession. Gross domestic product fell 4.8% in 2009, the biggest fall since records began in 1949. So we are over the worst but there are big difficulties still in the economy. The next few months could see a slip back into recession.

Nevertheless, expect Labour to shout loudly that everything is now wonderful and that the Lib Dems and Conservatives will eat your babies for breakfast.
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