UK double dip recession fears recede
A report by the Organisation for Economic Co-operation and Development (OECD) has today confirmed that the UK economy is unlikely to experience a double dip recession in 2010. Indeed the OECD believes that the UK economy will grow at the fastest rate of all but one of the G7 members in the second quarter of 2010.
In what will be a welcome relief to Gordon Brown, the OECD also believes that the UK economy will grow at around 3.1% in the second quarter of 2010 which is in line with UK government forecasts, which have been the focus of much ridicule of late. There is no doubt that the performance of the UK economy is proving more and more difficult to gauge but in the run-up to the general election it would appear the news could get better and better for Gordon Brown and the Labour Party.
In recent times the OECD has been fairly critical of the UK government and this weeks announcement that the UK economy will perform better than initially expected is something of a turnaround. There is no doubt that Gordon Brown will use this message to further focus upon his various economic initiatives over two years which would appear to be paying dividends at the perfect time.
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