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: August 31, 2016
UAE. Dubai secures fourth place in global office rental growth; Growth reaches 20% with continuous declining office vacancy levels in DIFC: JLL's Office Global Index Report.
date:Posted: August 31, 2016
INTERNATIONAL. Upward trajectory for prosperity continuing; 1 in 67 Brits is a millionaire: Barclays Prosperity Map.
date:Posted: August 30, 2016
UAE. Technology, real estate and consumer products are leading M&A sectors by transaction value in H1 2016; Domestic deal value increases 67% in H1 2016 compared to H1 2015.
dhgate
cheap wedding dresses on Ca-Dress.com