letmein
25-01-2011, 11:36 PM
Britain's economy suffered a shock 0.5 percent contraction in the last three months of 2010 after December's heavy snow took a far harsher toll than economists had forecast, official data showed on Tuesday.
The figures will be bad news for the government which is due to start cutting public spending in earnest early in 2011, and will cast doubt on market expectations that the Bank of England will raise interest rates in the first half of the year.
The Office for National Statistics said that Britain's economy would have struggled to register any growth in the fourth quarter even without any snow disruption.
http://www.cnbc.com/id/41246952
What can be done to change this??
The figures will be bad news for the government which is due to start cutting public spending in earnest early in 2011, and will cast doubt on market expectations that the Bank of England will raise interest rates in the first half of the year.
The Office for National Statistics said that Britain's economy would have struggled to register any growth in the fourth quarter even without any snow disruption.
http://www.cnbc.com/id/41246952
What can be done to change this??