Hopes of an imminent recovery for the recession-hit UK economy were dashed today by figures showing it is in deeper trouble than was thought.
Figures from the Office for National Statistics showed that GDP shrank at a rate of 0.8% between April and June, far faster than the 0.3% economists had been expecting.
This fifth successive quarter [...]
Posts Tagged ‘uk economy’
Awful economic data dash recovery hopes
July 24th, 2009 by Financial Writer
Tags: uk economy, UK Finance
more...The UK economy shrank by the most in more than half a century
June 30th, 2009 by Financial Writer
The UK economy shrank by the most in more than half a century in the first three months of the year, according to revised figures which were much weaker than originally estimated.
The 2.4 per cent decline in gross domestic product was sharper than the 1.9 per cent initially calculated, the Office for National Statistics reported, [...]
Tags: Capital economics, uk economy, UK national accounts
CBI warns economy will be slow to grow
June 15th, 2009 by Financial Writer
The UK economy will recover slowly and will not return to groth before the start of next year, warned the the Confederation of British Industry today.
The industry group said commentators had been too quick to seize on data that appeared to signal an early recovery and that talk of green shoots had been overdone.
Not only [...]
Tags: chief economic, confederation of british industry, uk economy