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Britain will be last out of recession

Britain is lagging behind other countries in getting out of the recession, according to the latest reports by the OECD.

Whilst the GDP forecasts for this year have improved from a drop of 4.8% to 3.9% for the Euro area, Britain is the only G7 country to have GDP predictions amended from June’s forecasts to “point to a gloomier situation”, with expected economic contraction increased by 0.4% to 4.7%.

Across the G7 countries, the outlook has improved, with economic growth forecast to fall by 3.7% this year, a less brutal contraction than the 4.1% drop projected in June 2009. USA’s projected GDP is the only figure to have remained the same, whilst Japan, Germany, France, Italy and Canada forecasts for economic growth, while remaining negative, have improved.

Readers' comments (1)

  • All this when the Ministers are away on holiday, typical! they should all be ordered back to sort out the mess!

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