British recession deeper than previously thought
Source: BI-ME with AFP , Author: Posted by BI-ME staff
Posted: Thu June 28, 2012 1:56 pm

INTERNATIONAL. Britain's recession is deeper than thought as official data on Thursday shows the economy shrank 0.3% in the first quarter following a higher-than-expected 0.4% contraction in late 2011.

The Office for National Statistics said in a statement that British gross domestic product (GDP) shrank 0.3 percent between January and March compared with the final quarter of last year -- confirming its previous reading.

But it revised its data for the fourth quarter of 2011, stating that GDP contracted by 0.4% between October and December, worse than a previous estimate of minus 0.3%.

A recession is defined as two quarters running of contraction.



date:Posted: October 19, 2016
UAE. The general trend for Abu Dhabi's hospitality market has been positive growth of tourism demand being offset by a decline in corporate demand and new supply completions.
date:Posted: October 19, 2016
INTERNATIONAL. Global medtech revenue in 2015 decreased 1.2% to US$337b, while net income dipped 15.5% to US$14b; Mergers and acquisitions increased 27% to US$80b in the 12 months ending 30 June 2016.
date:Posted: October 19, 2016
INTERNATIONAL. Largest quarterly increase for 18 months; Optimism driven by confidence in job security, up 6% since Q2, according to the latest Consumer Tracker from Deloitte.
cheap wedding dresses on