UK economic recovery 'slow, but will yield long-term results'

Thursday, 17 March 2011 11:59

The economic recovery in the UK is a slow process, but according to the Organisation for Economic Co-operation and Development (OECD) it is essential for yielding long-term benefits.

Releasing its latest UK Economic Survey, the OECD claims that growth will be relatively slow over the course of the next two years.

However, it stresses that the spending cuts currently in place will help to secure long-term recovery.

"By taking hard, though necessary decisions now, the UK is ensuring that it can continue to provide the British people with effective government services in the future," comments OECD secretary-general Angela Gurria.

Unemployment is expected to stay high over the coming two-year period – and younger people, as well as unskilled workers, may find they have particular difficulties finding work.

As such, the OECD stresses that strong employment services are instrumental in helping UK residents find roles.

Last month, the Office for National Statistics revised its gross domestic product predictions downwards for 2011.

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