IT contractors should be worried by how close the UK economy came to not leaving the recession, an expert has claimed.

Michael Baxter, editor of Investment and Business News, claimed that the recovery has been quite "tiny" compared to estimations that predicted growth would be 0.4 per cent.

He said that it is difficult to tell whether or not there will be a double-dip recession, as this will depend on whether exports revive in the nearby future.

"I am not convinced that the UK's situation is that much worse than its rivals it's just clouded by the fact that manufacturing is less important in the UK," he explained.

Mr Baxter added that the inventory cycle has had an impact on the assessment of the UK's economy, which could be masking a higher level of performance that could benefit IT contractors.

Earlier this week, Recruitment and Employment Confederation director of external affairs Tom Hadley claimed that IT contractors could benefit from an improving jobs market.