Economic contraction in Q3 lower than forecasts

Britons looking for permanent jobs in London will welcome further news that the economy may be recovering from its recent slump.

Official figures this week revealed that between April and June, the rate of economic contraction fell to 0.6 per cent.

Analysts had widely expected a 0.7 per cent decline, which means the economy performed better than some had forecast.

Alastair Darling, the chancellor of the exchequer, has already expressed optimism that the UK's economic recovery will be underway by the turn of the year.

"Germany, France and Japan are showing signs of growth," he said at the Labour Party conference in Brighton.

"Many independent forecasters believe the UK too is coming out of recession."

Meanwhile, chief secretary to the Treasury Liam Byrne has commended the government for saving thousands of permanent jobs during the economic slump, BBC News reports.

However, he told delegates at the conference that Labour should not ease its support for the economy when it begins to pick up again.

Updated: 30 September 2009.
Categories: human-resources, international, market-and-industry-news.