No Triple Dip does not mean a good recovery

John Van Reenen reacts to the news today that the UK has avoided economic contraction in the last quarter. Whilst Osborne may see this as cause to celebrate, there is nothing commendable about an economy that continues to stagnate. This news should not be taken as a sign to continue down the path of austerity. Rather, a policy change, starting with more public investment, is needed if the UK is going to recover.