Good news! We're in a double dip

News that Britain has lapsed back into recession has flustered the City. But don't panic, says Bengt Saelensminde - for this is no ordinary recession.

Data out yesterday showed that the UK is back in recession. We double-dipped in autumn last year and the economy has been contracting ever since. That's what the numbers say.

But it seems some City commentators are in denial about it. Goldman Sachs' UK guy called the numbers "unbelievable". The British Chambers of Commerce says they're "pessimistic". And one of Ernst & Young Item Club's advisers also reacted with "disbelief".

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Bengt graduated from Reading University in 1994 and followed up with a master's degree in business economics.

 

He started stock market investing at the age of 13, and this eventually led to a job in the City of London in 1995. He started on a bond desk at Cantor Fitzgerald and ended up running a desk at stockbroker's Cazenove.

 

Bengt left the City in 2000 to start up his own import and beauty products business which he still runs today.