Sir Mervyn says recession is over - Economy - News - Moneyfacts


Sir Mervyn says recession is over

Sir Mervyn says recession is over

Category: Economy

Updated: 21/09/2012
First Published: 21/09/2012

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

The governor of the Bank of England has predicted that the UK economy will rise out of the double-dip recession in the next quarter.

Speaking on Channel 4 News last night, Sir Mervyn King said he was beginning to see signs of economic recovery, but cautioned that it would be slow.

"I think the next quarter will probably be up. I think we're beginning to see a few signs now of a slow recovery," he said.

"After a banking crisis one can't expect to get back to normal and I fear it will take a long time."

Sir Mervyn also warned that the eurozone was like "a black cloud of uncertainty hanging over British businesses".

"What it will depend on critically is what happens in the euro area and the rest of the world. The US is struggling a bit, Brazil and China are slowing."

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