A economy officially enters a recession when GDP records two concecutive quarters of negative growth and they are officially out of the recession once that particular economy records just one quarter of 0% or positive growth.
Expectations are for our GDP figures to come out at 0.20% growth this morning which would mean the U.K is officially out of the recession, however as I'm sure many of you are aware even though the figures don't lie there is still a long long way before we really see a real recovery.
One would imagine that should figures come out as expected (or higher) then Sterling should have a really positive day as confidence in the Pound increases, however should figure come out worse or even more should we see negative again and still be locked in this recession for another three months I would expect the Pound to plummet.
In short an extremely volatile day is predicted one way or another on markets and my personal opinion is after seeing manufacturing data being poor alongside retail sales we could be set for weakness.
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