According to latest indications, the Isle of Man's economy appears to be surviving the worst of the global downturn by remaining in growth. The most up to date official figures, referring to 07/08 GDP, show that the economy in that year grew by 7.5 per cent in real terms. This more or less aligns with what the Treasury was expecting. The central planning assumptions had growth anticipated at 8 per cent. These same assumptions anticipate growth for 08/09 to have been around 4.5 per cent, and project for the current year growth of 2.5 per cent.
These are the best indicators yet that the Isle of Man is well placed to avoid recession and maintain its record of more than two decades of continuous economic growth.
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