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: November 28, 2015
UAE. Total passengers set to double to 7 billion by 2034; The UAE, Qatar and Saudi Arabia will all enjoy strong growth of 5.6%, 4.8%, and 4.6% respectively. The total regional market size will be 383 million passengers.
date:Posted: November 26, 2015
UAE. Legal experts say move will influence oil major investment plans in Iran ahead of the lifting of sanctions; Lawmakers likely to be mindful of "missed opportunities" in Iraq and Lebanon.
date:Posted: November 25, 2015
UAE. EMAAR, Shell, and Emirates lead The LinkedIn InDemand list of the most sought-after employers in the region based on millions of interactions from members; Rather than relying on questionnaires, InDemand measures the actual behaviour of professionals as they explore their career journey.
Monogram Ring