A poll in the Financial Times today shows that eleven out of twenty economists surveyed believe that the UK economy has stopped contracting and is likely to grow in the coming months. Even those who considered that the economy is still shrinking, believe that it is close to bottoming out.
It seems that Chancellor Alistair Darling’s predictions of a recovery by the end of 2009, issued at last months budget speech, may not be so pie in the sky after all. In fact the survey suggests a level of pessimism in Darling’s forecast, as the economic guru’s predict that growth may return to the UK much sooner.
Morgan Stanley economist Melanie Baker says, “Our central forecast is for a positive GDP growth number in the second quarter already.”
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