Goldteam's Blog

Shock GDP figures: REC says growth is still on the cards for 2011

Announcement by the Office for National Statistics has revealed a shock 0.5 per cent contraction in the UK’s economy in the final quarter of 2010.

This is very disappointing but understandable given the appalling weather the UK experienced in November and December. As a result of this, most sectors struggled to cope and many consumers just stopped spending even in the run-up to Christmas.

However, a positive sign was the REC’s latest Report on Jobs which did indicate that the jobs market in December remained in growth. Also, Jobs Outlook, the REC’s survey of employers remains optimistic about private sector jobs growth for the rest of this year.