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Payment protection: Economic outlook to be 'lacklustre'

People who have had trouble with payment protection may be concerned to hear that the economic outlook for this year is "lacklustre", an expert has said.

James Roberts from Pure FX, a company that specialises in providing foreign exchange and international payment solutions, claims that the economy will grow but only by a small amount.

He said: "I think [economic growth is] going to be lacklustre to be honest. I think [the economy] is going to grow, but by a very small amount.

"The fourth quarter of 2010 contracted and if the first quarter figures for 2011 are disappointing, then the UK could be back in recession."

Mr Roberts added that he does not believe economic growth will be "particularly good" over the course of this year.

His comments follow a new analysis by the OECD, which predicts that UK gross domestic product will expand at an annualised rate of one per cent in the second quarter of 2011.

Jennifer Haines

Jennifer's speciality knowledge is credit card changes and balance transfers.

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