GDP figures promising, but there are choppy waters ahead, says IoD

Dated: 26 October 2010

Commenting on the latest GDP figures Graeme Leach, Chief Economist at the IoD said:

The GDP numbers are better than expected given the recent spate of indicators suggesting a much weaker performance. The key question is will it last and that’s where the IoD is more cautious. The likelihood of a further extension in QE has diminished but not disappeared. The economy is about to sail through choppy waters and it would be a mistake to focus all our attention on fiscal policy. The risk to the economy from a mistake in monetary policy – insufficient money supply growth – remains.

ENDS

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Edwin Morgan
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Email: edwin.morgan@iod.com
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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.
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