Double-dip avoided?

So, the growth figures published yesterday confirmed what most had hoped; that the UK was not going to be the victim of the dreaded double-dip recession. On the surface then, good news, but what lies behind the figures. The last three months of 2010 saw a growth rate of -0.5%, blamed mostly on the appalling weather that we experienced at the year's end. The first three months of 2011 have seen a reversal of that trend with growth registering at +0.5%; hardly brilliant but at least positive. Key to this 'recovery' seems to be the growth in manufacturing output, at over 6% the highest since the early 1980s. Why? Well, with such a weak Pound, export prices are reduced making UK products extra-competitive on the UK market. Of course, the Pound is weak because interest rates are so low, resulting in a fall in demand for sterling on the international exchange and a consequent fall in its 'price' or exchange rate. This then appears to be an 'export-led' recovery. Despite this, figures published this morning suggest that consumer confidence is at its lowest for some time and several high street retailers such as Primark, continue to issue profit warnings. Is there anywhere else for the policy makers to go? The Bank of England has already cut interest rates to the bone at 0.5% and spent £200 billion on asset purchasing and all for zero growth over the past 6 months. What is the likelihood of an improvement in the UK economy's performance in the next quarter; that's the big question?