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: March 15, 2018
UAE. Aging and increasing populations, advances in medical treatments, and rising labor costs will drive spending; Digital technologies are playing a vital role in reducing costs, increasing access, and improving care and the patient experience.
date:Posted: March 14, 2018
UAE. Capturing greater value requires regional organizations to invest in more than just technology. It is also necessary to make significant organizational and process changes, including approaches to talent, IT management and risk management.
date:Posted: March 14, 2018
UAE. Deloitte launched the Deloitte Accelerator for Social Innovation (DASI) program in the Middle East, which provides social enterprises in the region with an opportunity to grow and scale their impact.