Friday 23 October 2009

Longest recession on record grips UK

Independent
"And it shows the UK lagging behind other major economies such as France and Germany, which both emerged from recession in the second quarter of the year. ....But the pound sagged against the dollar and euro on the hugely disappointing figure as markets bet on more support for the economy from the Bank of England with an extension of the QE programme to as much as £250 billion.Economists warned of a potential deflation risk and said it could take at least six years to make up the output gap left by the recession."

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