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The
British economy may have seen the worst of the recession, according
to a report from the Organisation for Economic Co-operation and
Development (OECD).
Based
on the OECD’s latest indicators, the UK emerged from a strong
slowdown and entered a possible trough in March.
Using
a series of economic indices for individual countries, the OECD said
that the UK economy rose by 0.3 points to 96.6 at the end of the
first quarter, where an increase indicates recovery.
Of
the other major economies, China, France and Italy also showed signs
of tentative recovery, while the US, Germany, Japan and Canada were
still in the grip of a major slowdown.
The
more positive news was tempered by a warning that the recovery was
weak and may amount to no more than an easing of the decline in
growth.
The
OECD report said: “OECD composite leading indicators for March
2009 continue to point to a strong slowdown in the OECD. However
France, Italy and the United Kingdom are showing tentative signs of,
at least, a pause in the economic slowdown.” |
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