It’s looking likely.

Germany, France and Japan are out;  the US expects to have escaped when figures are released on Thursday and City analysts say Canada and Italy will join the US in recording growth in the third quarter.

Which, out of the G7 nations, leaves Britain trailing and stuck in recession.  The lack of balance in the economy – too much dependence on financial services and debt-fuelled consumption for its growth now appears to be hampering our recovery.

So much for us being “better placed” than other countries to deal with the recession.