Latest growth figures demonstrated that the economy actually grew by more-than-expected in the third quarter at 0.5%, in comparison with 0.1% inside three month through June. The Pound has beenbesieged through speculation of a third quarter contraction even so the positive result can be tempered by suggestions that the UK economy remains facing a double-dip recession, as Europe's debt crisis intensifies.

The Lender of England has renewed the quantitative easing plan prior to now month to boost lending conditions and support growth but economists still expect GDP to contract in the fourth quarter and first quarter of 2012, equating regarding a technical recession. A different report this morning indicated that UK manufacturing slumped in October by even more than initial expectations and the third quarter growth figures could be treated to provide a one-off after a surprise improvement in services industries over that period. .... Read More