ThisisBigBrother.com - UK TV Forums - UK Economy Suffers Shock Contraction in Fourth Quarter

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UK Economy Suffers Shock Contraction in Fourth Quarter

Quote:

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??

Well, hopefully it wont snow so much

I think when it is revised in a few weeks time it will show a slightly better state of affairs.
Still a bad sign though.