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OECD: 'UK Is Back In Recession'

TOPIC: OECD: 'UK Is Back In Recession'

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#83656

david

OECD: 'UK Is Back In Recession' 12 Years, 1 Month ago

Depressing news.

'The UK is deep in recession and will be among the slowest of the world's largest economies to recover in the first half of this year, according to a study by the Paris-based thinktank, the OECD.

Only Italy will struggle over a longer period to return to growth, highlighting the difficult situation confronting the British government as it battles to boost confidence and get the economy back on track.

In recent weeks surveys have shown the business and consumer sentiment falling back after an initial boost earlier this year.

The Office for National Statistics added to the gloomy prognosis for the economy on Wednesday when it reported a bigger fall in output in the final three months of 2011 than first estimated. It said a previous 0.2% drop in output had underestimated the the size of the fall, which further analysis found to be 0.3%.

The OECD, which produces quarterly figures showing year-on-year growth, said that UK output declined by 1.2% in the final quarter of 2011 and will decline by 0.4% in the first three months of 2012.'

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#83672

In The Know

Re:OECD: 'UK Is Back In Recession' 12 Years, 1 Month ago
With the number of lost working days due to skiving during the EuroJubilympics I doubt anyone will find this news ! Enter code here Please note: although no board code and smiley buttons are shown, they are still usable.

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#83682

veritas

Re:OECD: 'UK Is Back In Recession' 12 Years, 1 Month ago

In The Know wrote:
With the number of lost working days due to skiving during the EuroJubilympics I doubt anyone will find this news !

if days are taken off during the Olympics which haven't happened yet, and will only be for 2 weeks when they do it could hardly have caused a recession that is happening now.

I say it is more to do with politicians scaring the be-Jesus out of people who stop spending which results in a recession.

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