IoD reaction to revision of GDP figures

Dated: 27 August 2010

Commenting on today’s upward revision of second quarter growth figures, from 1.1 percent to 1.2 percent, Graeme Leach, Chief Economist at the Institute of Directors, said:

“Today’s figures are obviously good news but we shouldn’t get carried away. Instead of looking in the rear view mirror at what has passed it would be wiser for us to keep our eyes on the road ahead. We don’t expect this level of growth to be sustained through the second half of 2010. But whether or not this slide will turn into a quarterly decline or a double dip recession remains highly uncertain.”

ENDS

Contact Points

Edwin Morgan
Communications and Policy Officer
Institute of Directors, 116 Pall Mall, London SW1Y 5ED
Tel: +44 (0)20 7451 3392
Mob: +44 (0)7814 386 243
Email: edwin.morgan@iod.com
Website: www.iod.com/policy

Notes to editors

  • The IoD (Institute of Directors) was founded in 1903 and obtained a Royal Charter in 1906. The IoD is a non-party political organisation with upwards of 45,000 members in the United Kingdom and overseas. Membership includes directors from right across the business spectrum – from media to manufacturing, e-business to the public and voluntary sectors. Members include CEOs of large corporations as well as entrepreneurial directors of start-up companies.
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  • In addition, the IoD provides an effective voice to represent the interests of its members to government and key opinion-formers at the highest levels. These include ministers, constituency MPs, Select Committee members and senior civil servants. IoD policies and views are actively promoted to the national, regional and trade media.
  • For further information, visit our website: www.iod.com
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