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Is Britain facing the longest economic slump on record
11/10/2011
It has been recently reported that Britain could experience the longest economic slump on record. Recovery from recession appears to have stopped and it is more and more likely that the economy could slip into a double-dip recession. This warning comes from the National Institute of Economic and Social Research.
It has been reported by the Institute that in order for us to avoid the longest depression ever recorded, output must grow by 4% by March 2012. Since January 2011, output has only grown by 0.9%.
Simon Kirby, from the National Institute of Economic and Social Research predicts that output will not return to pre-recession levels until the second quarter of 2013. Homeowners aged over 55 years who are worried about the recession and would like to know how much money the value of their property could release to increase their income, can find out by contacting therightequityrelease.co.uk for equity release advice.
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