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.

 

MIDDLE EAST BUSINESS COMMENT & ANALYSIS

date:Posted: December 24, 2014
INTERNATIONAL. With Europe, China and the UK all slowing down, the US may need to prop up global growth singlehandedly next year; Dollar expected to reign supreme in early 2015.
date:Posted: December 24, 2014
UAE. "The increasing trend looks set to continue in 2015, with stable markets such as the UAE and Saudi Arabia remaining attractive to international investors."
date:Posted: December 24, 2014
UAE. Business students from local UAE universities choose airports and airlines, software companies and the FMCG sector as their preferred places to find a career.
UAE. "The increasing trend looks set to continue in 2015, with stable markets such as the UAE and Saudi Arabia remaining attractive to international investors."
dhgate