Seriously worrying – UK may not have emerged from recession
This article in the Guardian is seriously worrying if it is backed up by the release of figures tomorrow.
Forget a double dip. Britain may not have emerged from recession in late 2009 after all. Government figures released this morning showed a dramatic 6% fall in business investment in the final three months of the year, which all other things being equal would shave 0.5 points off output. Given that the initial estimate of growth in quarter four 2009 was just 0.1% , that’s not good news.
The even worse news is that a catastrophic 24% drop in investment over the past year leaves the economy in an enfeebled state as it attempts to recover from the deepest and longest recession since the 1930s. This, remember, is a recovery that is supposed to based on a rebalancing of growth from consumption to investment and exports. Fat chance, on the basis of today’s report.
Keep reading at the link below.
Recent Comments