Figures show Guernsey's recovery from recession

But Jersey’s Treasury Minister, Philip Ozouf, says that the figures cannot be compared to last week’s statistics showing that Jersey’s economy declined by 1% last year.

The news comes on the day when Jersey’s independent panel of expert economists who advise the States will give their view on the three-year spending plan proposed by ministers.

The Guernsey figures showed an estimated 1% GDP rise, which was some way down on the 3.5% forecast from their strategic plan and the 1.9% forecast from the Budget.

Comparable GVA figures for Jersey, which measure economic performance in a different way, showed on Wednesday that the economy had contracted by 1% in 2011.