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| Financial expert predicts slow GDP growth |
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| Latest Recruitment News - Office Recruitment News |
| Written by DirectNews Feed |
| Thursday, 09 December 2010 00:00 |
 People with finance jobs in London may be interested to note one expert's opinions regarding the rate at which the UK's gross domestic product (GDP) will expand in the near future.According to Samuel Tombs, UK economist at Capital Economics, the country will experience sluggish growth of approximately one per cent in 2011 and then 1.5 per cent one year later as Britain continues to emerge from the effects of the global economic downturn. "I think it will take several years - perhaps to the middle of the decade - for output to recover to its pre-recession level," he noted. Mr Tombs' estimations are more conservative than those of the British Chambers of Commerce, which reported earlier this week that GDP will expand by 1.9 per cent next year and 2.1 per cent in 2012. The specialist added that the government's austerity measures will cause the nation's growth to stutter in the coming months and years. Posted by Daniel Frost 
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