Saturday, 24 October 2009

Britain's economy is still dangerously fragile

"What these figures illustrate is just how fragile our economy remains. Output from manufacturing, construction and services is still well below trend. The economy is no longer contracting at the terrifying rate of earlier this year. But there has been no strong rebound to growth. And there is little prospect of one either. The British economy has contracted by about 6 per cent since the middle of last year. Getting back to the levels of employment and output to which we have grown accustomed will be a long and arduous journey."

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