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Economy remains in good shape

by isleofman.com 4th December 2009

The Island's economy is holding up remarkably well in the face of a number of major challenges, and the government is predicting a 26th consecutive year of growth.

Following publication of the latest quarterly economic report to the Council of Ministers, Treasury Minister Allan Bell says he expects a figure of 2.5 per cent for the twelve months to the end of March 2010.

The report highlights the importance of diversification to the Island's continuing success, and the growing importance of emerging sectors such as e-business, the shipping and aircraft registries and space commerce.

It says, at the current rate of growth, the aircraft register will be the global leader by early next year.

Mr Bell says the rate of unemployment remains low, and the Island should again avoid going into recession:

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Posted by isleofman.com
Friday 4th, December 2009 06:05pm.

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