(multimedia) Recession is back- in the UK. Official figures for the first quarter show the UK has fallen back into recession – making it the first double dip recession in the country since the 1970s. The BBC has more…
“GDP, gross domestic product, is the term for everything the economy produces. If it falls for six months you get a recession. There was a drop at the end of last year and now another one 0.2%.”
Sky News economics editor Ed Conway comments – this is the longest recession in Britain’s economic history….
“Longer than in the 30s, longer than in the 20s and there still to be no sign of where we are going to get that growth from. So it is disappointing.”
The Office for National Statistics shows the decline in gross domestic product was fueled by a fall in the construction and manufacturing sectors- something that left analysts skeptical. The Wall Street Journal reports…
Newsy Has the full article
