Recession 'unlikely' in Guernsey

Guernsey's Treasury and Resources Department says the Bailiwick is unlikely to see a recession.

In its quarterly bulletin, the department says the economy in Guernsey is in better health than the UK.

But it warns the economy in Guernsey depends on the continuing growth of the fund management industry.

Managed funds in the island grew by �3.4bn over the three months up until the end of June to reach a total of �207bn, a 33% rise over the year.

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