Derbyshire’s Gross Domestic Product (GDP) figures very encouraging

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The preliminary Derbyshire's Gross Domestic Product (GDP) figures for the first quarter of 2010 are very encouraging.

The latest statistics recorded a growth rate of 0.2% GDP in the three months ending in March.

Earlier this month, the chamber's Quarterly Economic Survey suggested the county had come out of recession.

George Cowcher, chief executive of Derbyshire and Nottinghamshire Chamber, said: "While the figures are weaker than expected, they provide further encouragement that the economy is gradually starting to recover, with GDP showing growth for two quarters in a row.

However, he said the economy still remains fragile.

He further suggested that, soon after the election, the next government needs to put in place a credible deficit-reduction plan that would allow businesses to lead a sustainable recovery."