1.2% growth would not be a 'bad outcome'

Date: 13th July 2010

UK business owners could be among those interested in recent expert comments regarding the country's growth.

Martin Bamford, chartered financial planner at independent adviser Informed Choice, said growth of 1.2 per cent would not be "a bad outcome" for the country.

The comments follow the publication of a report by the International Monetary Fund, which estimated 1.2 per cent growth for the UK by the end of 2010 and 2.1 per cent growth by the end of next year.

Mr Bamfield said: "This level of growth would not be a bad outcome, following so much concern about a double-dip recession and the generally febrile state of economic recovery in the UK.

"Most of our exports go to Europe and the US, so the Asian market remains one with huge potential for the UK, as evidenced by the growing desire for UK insurance groups to boost their operations in Asian markets."

The latest figures from the Office for National Statistics show that UK GDP growth was 0.3 per cent for the first three months of this year, 0.2 per cent lower than the same period in 2009.

Posted by Jacob Williams