Riddell: UK recovery worse than Great Depression

Mike Riddell, bond fund manager at M&G, has warned investors the recovery in the UK is weaker than the one seen after the Great Depression in the 1930s.

Riddell, who runs the top performing £385m M&G Index-Linked Bond fund, said the UK is experiencing a recovery so sluggish it lags behind the aftermath of one of the greatest downturn of modern times. Riddell, reacting to the news UK GDP shrank by a worse than expected 0.3% in Q4 of last year, said: "The UK economy has stalled. UK real GDP is 4.1% below its pre-recession peak, which makes this ‘recovery' worse than the Great Depression." Riddell pointed out that, compared to Q1 2008, just before the credit crisis engulfed the UK and other economies, UK GDP remained 4.1% weaker 15 quart...