Wednesday February 11, 11:05 AM
Economy to shrink 4-6% in mid year
LONDON (AFP) - The Bank (NASDAQ: TBHS - news) of England said on Wednesday that the recession-hit economy was set to shrink by 4-6 percent in the middle of 2009 from the level 12 months earlier, returning to growth in early 2010.
The central bank indicated in a quarterly report that under its central projection, gross domestic product (GDP) would shrink by as much as six percent in the middle of this year.
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