LONDON, Nov 25 (Reuters) - Britain's economy probably began growing again in the second half of the year, although official figures will take some time to reflect that, Bank of England policymaker Andrew Sentance told Sky News on Wednesday.
'When the exact turning point took place is very difficult to pinpoint and I think it may take a while for the official GDP figures to catch up with that,' he said in an interview.
The Office for National Statistics said earlier on Wednesday that Britain's economy shrank for a sixth consecutive quarter in the three months to September but at a slower pace than previously reported.
GDP fell by 0.3 percent in the third quarter, less than the 0.4 percent fall reported last month.
Despite the latest figures, Sentance said it was 'not clear that we are still in recession.
'We are now well into the fourth quarter and we have had quite a lot of positive information from business surveys, from figures for car sales, retail sales and from the international economy, that would suggest to me that actually the economy is now growing again in the second half of this year,' he said.
(Reporting by Peter Griffiths; Editing by Dan Grebler) Keywords: BRITAIN BANK/SENTANCE (peter.griffiths@reuters.com; +44 207 542 7947; Reuters Messaging: peter.griffiths.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
'When the exact turning point took place is very difficult to pinpoint and I think it may take a while for the official GDP figures to catch up with that,' he said in an interview.
The Office for National Statistics said earlier on Wednesday that Britain's economy shrank for a sixth consecutive quarter in the three months to September but at a slower pace than previously reported.
GDP fell by 0.3 percent in the third quarter, less than the 0.4 percent fall reported last month.
Despite the latest figures, Sentance said it was 'not clear that we are still in recession.
'We are now well into the fourth quarter and we have had quite a lot of positive information from business surveys, from figures for car sales, retail sales and from the international economy, that would suggest to me that actually the economy is now growing again in the second half of this year,' he said.
(Reporting by Peter Griffiths; Editing by Dan Grebler) Keywords: BRITAIN BANK/SENTANCE (peter.griffiths@reuters.com; +44 207 542 7947; Reuters Messaging: peter.griffiths.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
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