RECOVERY from the recession and the global financial crisis in the UK has been more sluggish than it was after the Great Depression of the 1930s.

George Buckley, pictured above, chief UK economist at Deutsche Bank, was in the island to offer his thoughts on the global and domestic economic picture for 2012.

Though he was not all negative, he described the UK’s recovery path as ‘worse than the position we were in at the same stage of recovery following the Great Depression’.

‘The UK recovery is running at half normal strength,’ he said, ‘and consumption is just failing to rebound.  The GDP forecast is very weak because of continued weak consumption.’