http://www.channel4.com/news/recessi...d-to-end-today
Quote:
The National Institute of Economic and Social Research (NIESR) estimates that output grew by 0.8 per cent in the third quarter of 2012.
But it says this "robust" growth is "largely an artefact of special events" and that growth is likely to be "at a significantly slower pace in the coming quarters". As such, it believes underlying growth is likely to be 0.2-0.3 per cent.
The economy has been damaged by months of negative growth and the NIESR does not expect gross national product to reach 2008 levels until 2014.
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Quote:
The recession and inflation have taken their toll on living standards, according to research from the ONS published on Tuesday.
The ONS said incomes fell by more than 13 per cent this year compared to the start of the recession four years ago.
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That's incomes for basic rate tax-payers, course - higher rate tax-payers were not affected and additional rate tax-payers got loadsamoney to offset inflation so they buy new mansions and SUVS .....
