18 month recession
Record uk recession
The latest figures show the uk recession is to continue with the news that the uk economy contracted by 0.4% between july and september. That is six consecutive quarters, or 18 months of recession, an official record uk recession.
The expectation for the last quater was for the economy to actually improve by 0.2% over the last quater, so the news of a 0.4% fall shows that the expectations were <0.6% wrong.
The worse-than-expected figures are likely to make the Bank of England consider extending its policy of quantitative easing, the figures of which are already in the £175 billion , and nearly spent. Read more...
Categories: uk Recession Tags: record recession