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Britain heading for triple-dip recession as GDP shrinks 0.3% in fourth quarter

Posted By admin On January 25, 2013 @ 6:23 am In Money Watch | Comments Disabled

Phillip Inman
London Guardian [1]
Jan 25, 2013

Britain could be on course for its third recession [2] in four years after the economy shrank by 0.3% in the last three months of 2012.

A fall in manufacturing output dragged down the economy, countering a small rise in construction between October and December last year, according to the Office for National Statistics.

The figures were worse than expected and could put pressure on the government to consider a “Plan B” that would stimulate demand.

The prospect of a triple-dip recession, which will become official should the economy contract again in the first quarter of 2013, is expected to further dent the confidence of consumers and companies, hitting high street spending and business investment.

Full article here [1]


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URLs in this post:

[1] London Guardian: http://www.guardian.co.uk/business/2013/jan/25/uk-triple-dip-recession-gdp

[2] recession: http://www.guardian.co.uk/business/recession

[3] Britain on brink of recession as economy shrinks by 0.5% – the worst figures for 18 years: http://www.prisonplanet.com/britain-on-brink-of-recession-as-economy-shrinks-by-05-the-worst-figures-for-18-years.html

[4] ‘Blame The Weather’ As UK Heads For Unprecedented Triple-Dip-Recession: http://www.prisonplanet.com/blame-the-weather-as-uk-heads-for-unprecedented-triple-dip-recession.html

[5] GDP Shrinks. WSJ Says ‘No Reason to Panic.’: http://www.prisonplanet.com/gdp-shrinks-wsj-says-no-reason-to-panic.html

[6] Banking crisis: Is Britain heading for the worst recession since the 1930s?: http://www.prisonplanet.com/banking-crisis-is-britain-heading-for-the-worst-recession-since-the-1930s.html

[7] U.S. and British Economies CONTRACTED in Fourth Quarter of 2012: http://www.prisonplanet.com/u-s-and-british-economies-contracted-in-fourth-quarter-of-2012.html

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