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Disappointment reigned in October 2009 when the latest quarterly figures for gross domestic product (GDP) showed a fall of 0.4% compared with the previous quarter, instead of the slight increase that had been widely predicted.
We shouldn’t panic just yet, the margin of error in these figures is considerably more than 0.4%. However, there is still a long way to go — as Adam Smith famously observed: ‘There’s a deal of ruin in a nation.’
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