Friday, Bank of England policy maker Adam Posen told a regional newspaper Lincolnshire Echo that the British economy has "bottomed out". "There is still a lot of work to do and the country still has a lot of spare capacity but we are starting to see decent growth," he said.
"We think there is greater confidence than there was 12 months ago and interest rates have come down," he said.
The Office for National Statistics on November 25 revised the economic contraction for the third quarter to 0.3% from 0.4%. The economy contracted for the sixth straight time in the third quarter of 2009.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.