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Triple Dip Recession Eyed in Britain

By: Cactus Flower in ALEA | Recommend this post (0)
Fri, 25 Jan 13 6:25 PM | 54 view(s)
Boardmark this board | The Trust Matrix 		Msg. 12515 of 54959
(This msg. is a reply to 12514 by clo)
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that's austerity economics in the midst of global demand failure for you.

it's a sad story of horrible waste under the previous administration and the desire to put things right. but awful timing.

economics is contextual.

you can't austere your way to demand when there isn't much of any. you have to be the spender of last resort, and only when the recovery begins to overheat, mind your pennies.

all osborne has done is made things worse. sad.

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The above is a reply to the following message:
‘Triple Dip’ Recession Eyed in Britain
By: clo in ALEA
Fri, 25 Jan 13 6:10 PM 		Msg. 12514 of 54959

‘Triple Dip’ Recession Eyed in Britain

Britain’s economy continued to shrink in the fourth quarter, according to figures released by the Office for National Statistics on Friday, meaning that the country could be headed for an unprecedented “triple dip” recession. The country’s gross domestic product shrank 0.3 percent in the final quarter of 2012, with the economy still below its September 2011 levels and smaller by 3.3 percent than in 2008. Sterling fell Friday to its lowest levels against the euro in over a year, and output by Britain’s manufacturing sector dropped by 1.5 percent in the quarter and 1.8 percent for the year as a whole. Britain entered a recession in September 2011, but briefly rallied earlier this year, buoyed by the London Olympics and the queen’s Diamond Jubilee.

Read it at Reuters

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