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UK economy slow in November
GDP growth slowed from 0.4 per cent in the three months ending in October to 0.3 per cent in the three months ending in November, according to research from the National Institute for Economic and Social Research (NIESR) out yesterday. The think-tank believes economic output will not pass its pre-recession peak until 2013. Under its classification system, this means the UK is still in a depression, but as output is still growing, not in a recession. “Economic growth in the UK remains subdued,” the report said. “These data lend support to the further loosening of UK monetary policy.”