U.K. economic growth is likely to alternate between expansion and contraction in 2012, Bank of England Governor Mervyn King said Wednesday.
"For much of this year, there is likely to be a 'zig-zag' pattern of alternating positive and negative growth rates," King told reporters when presenting the central bank's latest inflation report.
King said the likely swings in output will reflect extra holidays associated with Queen Elizabeth's diamond jubilee celebrations.
King said economic growth will be weak in the near term but should gradually recover.
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