Sticks
23-01-2009, 05:24 PM
From BBC News Online (http://news.bbc.co.uk/1/hi/business/7846266.stm)
The UK is now in recession for the first time since 1991, official government figures have confirmed.
Gross domestic product fell by 1.5% in the last three months of 2008 after a 0.6% drop in the previous quarter.
That means that the widely accepted definition of a recession - two consecutive quarters of falling economic growth - has been met.
It represents the biggest quarter-on-quarter decline since 1980, and a 1.8% fall on the same quarter a year ago.
:sad:
Worrying?
The UK is now in recession for the first time since 1991, official government figures have confirmed.
Gross domestic product fell by 1.5% in the last three months of 2008 after a 0.6% drop in the previous quarter.
That means that the widely accepted definition of a recession - two consecutive quarters of falling economic growth - has been met.
It represents the biggest quarter-on-quarter decline since 1980, and a 1.8% fall on the same quarter a year ago.
:sad:
Worrying?