Friday October 23, 10:26 AM
UK's Darling says cautious, sticks to growth forecast
LONDON, Oct 23 (Reuters) - Growth will return to Britain by the end of year, British finance minister Alistair Darling said on Friday, reiterating his Budget forecast after data showed the economy unexpectedly shrank in the third quarter.
Darling said removing government measures aimed at stimulating the economy now would be 'madness'.
'I've always been clear that growth will return at the turn of year, as my Budget forecast confirmed,' he said in a statement.
'We're facing the worst global financial crisis and recession in 60 years. We've always said that we remain cautious as a result of the high degree of economic uncertainty.
Preliminary data for third quarter UK gross domestic product showed the economy unexpectedly shrank by 0.4 percent on the quarter.
|
|
|
Send Article by Email
Send Article by IM
Blog This with Y! 360
Printable View
