UK GDP revised upwards again
UK GDP (gross domestic product) for the final quarter of 2009 gave Chancellor Alistair Darling a boost today after it was revised upwards from 0.3% growth to 0.4%. While a 0.1% increase in the GDP figure for the final quarter of 2009 may seem irrelevant in the overall picture of the UK recession, it gives the impression that the UK economy is perhaps growing faster than many people had thought.
The worst-case scenario for the UK government was a downwards division and a further fall in GDP growth in the first quarter of 2010 which would push the UK back into a double dip recession and all but obliterated Gordon Brown's chances of re-election. However, if the government can maintain the momentum apparently flowing through the UK economy at this moment in time then we could see further good news in the run-up to the election which could and should play into the hands of Gordon Brown and the Labour Party.
However, the UK economy has shown itself to be very volatile over the last few months and nothing can be taken for granted even if it does appear that the economy is moving in the right direction.
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