The recovery form the recession will be a slow one, an economist has predicted.
Julius Sen from the London School of Economics suggested the emergence from recession will be sluggish and the recovery of household wealth will only be gradual, with the sort of economic expansion required to match the contraction not being likely soon.
He said the recovery will be “low, slow and long drawn out, is my assessment of how things will pan out. If we are lucky,” suggesting that a return to recession is possible.
People struggling with debt management issues may wish to consider finding better products for them, instead of pinning their hopes on gaining more wealth from a better job or greater return on investments in the prevailing economic climate.
According to the Confederation of British Industry, the UK should exit the recession at the end of the current quarter with a growth rate of 0.3 per cent.
Gross domestic product will then rise by 0.4 per cent in the last three months of the year, it predicted.