IoD reaction to GDP figures

Published on Tuesday, 01 November 2011 10:28
Posted by Scott Buckler

Commenting on the latest GDP figures, which showed an increase of 0.5 per cent in the third quarter of 2011, Graeme Leach, Chief Economist at the Institute of Directors, said


You can’t see the road ahead from the rear-view mirror: today’s GDP figures are welcome news, but they fail to capture the dramatic events of recent weeks in the eurozone. GDP growth is almost certain to flatten off, or even fall, in the fourth quarter of this year due to postponed business investment and consumer caution, even if the eurozone crisis stabilises. Unfortunately we don’t think the crisis is over, it will continue to haunt recovery prospects in the UK.”

Source: IOD

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