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Paul Tucker warns of weak economic recovery

Paul Tucker, the deputy governor of the Bank of England, has warned UK economists that the UK economic recovery could be prolonged and fairly weak. This comes on the back of economic data which shows that the UK retail sector is stagnating at the moment which is a disappointment to those expecting a fully fledged UK economic recovery in the short to medium term.

It will be interesting to see how economists amend their forecasts for 2009 and 2010 with more and more people becoming concerned about the strength of the recovery and the ability of the UK economy to hold onto any gains made in 2009. As we have mentioned on numerous occasions, a weak start to 2010 would be a disastrous development for the UK government as we approach the next general election.

While Gordon Brown and the government may well have made mistakes, we will only really see the fruits of their investment in the medium term and ultimately this may not assist their attempt to regain office. However, there are also many people who believe the incoming government, whoever that may be, will be inheriting something of a poisoned chalice. Time will tell but the UK economic situation is far from clear and looks set to get murkier before the mist finally clears.

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