UK: Mixed opinions over ‘recession end’

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According to The National Institute for Economic and Social Research, in the last three months to August, Britain’s economy grew for the first time in 18 months. In addition, recruitment agencies saw an increase in the number of permanent job appointments for the first time in 17 months while The Recruitment and Employment Confederation reported an increase in temporary appointments and a reduction in the pace of decline of vacancies.

A note of caution was sounded by David Blanchflower, a former member of the Bank of England’s Monetary Policy Committee, who pointed out that unemployment is still rising and who believes that these encouraging figures are merely the exception and not the rule to what is happening in the economy in general. Similarly, Dominique Strauss-Kahn, the managing director of the International Monetary Fund, reiterated the Fund’s belief that recovery would not happen before the first half of 2010.

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