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BBC NEWS | Business | UK economy sees 2.4% contraction

The UK economy contracted 2.4% in the first quarter of 2009, its biggest decline in more than 50 years, according to the latest official data.

The decline was more severe that the earlier estimate of a 1.9% fall, and worse than analyst expectations.



Any idiot can face a crisis - it's day to day living that wears you out.
by ceebs (ceebs (at) eurotrib (dot) com) on Tue Jun 30th, 2009 at 04:44:38 AM EST
[ Parent ]
And the Eurozone is experiencing deflation, so there's little hope of the rest of the EU helping to drag the UK's irons out of the fire anytime soon.


I've been accused of being a Marxist, yet while Harpo's my favourite, it's Groucho I'm always quoting. Odd, that.
by BruceMcF (agila61 at netscape dot net) on Tue Jun 30th, 2009 at 11:48:08 AM EST
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