Spreadex Market Update
Asian trading flat
However, the UK economy is set for a modest contraction this year according to the national institute for economic and social research, as it downgraded its forecast for 2012 to -0.1% growth for 2012.
If accurate the worries of a double dip recession will soon become reality as the UK struggles to maintain growth among a flaky at best European economy.
All eyes will be on the US job figures this afternoon, with any positive figure helping push this current rally even higher.
The economy is steadily gaining traction however this should not be taken for granted as It seems the hill which is Europe could suddenly get a lot steeper.
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