Bank of England policymaker, Kate Barker, said the UK is unlikely to return to recession.
In an interview over the weekend, Ms Barker, who is a former housing adviser to the Government, said it is possible, however, that the economy could contract for one quarter.
“It’s possible we will have a quarter when GDP falls, but [...]
The Venezuelan economy, which relies heavily on revenues from its oil reserves for its economic growth, contracted by 5.8% in the fourth quarter of 2009 compared with a year earlier.
According to the Central Bank of Venezuela (BCV), the economy shrank 3.3% during the 2009 year.
The BCV said the global economic crisis and “the weakness of [...]
The Spanish economy is still in recession after the economy contracted by 0.1% in the fourth quarter of 2009 – the seventh consecutive quarter of contraction.
The figures from the INE, the national statistics agency, show that Spain is now the last major economy still in recession.
Meanwhile, on an annual basis, the economy shrank 3.1% [...]
There were further hopes of a strong recovery today after the Chartered Institute of Purchasing & Supply (CIPS)/Markit purchasing managers’ index (PMI) rose to 48.6 in January, up from 47.1 the previous month – the smallest fall in activity during the current 23-month period of contraction.
The figures came just a day after the CIPS/Markit [...]