Latest GDP numbers mean Britain’s economy has shrunk since general election
The latest poor GDP numbers mean Britain’s economy has shrunk since general election.
The latest poor GDP numbers mean Britain’s economy has shrunk since general election.
George Osborne has again blamed the double dip recession on the eurozone – the truth, however, is the causes of the recession are primarily domestic.
The UK economy shrank by more than first thought, down 0.3% in the first quarter of 2012, and down 0.6% over the past two quarters – a deeper double-dip.
According to NIESR’s report this morning, persistently weak demand is maintaining high unemployment, and may lead to a permanently higher rate of joblessness.
As the UK economy descends into a double-dip recession, new figures today show the US economy continuing to grow, albeit it at a slower rate, writes Shamik Das.
“The results are in: Keynesians have been completely right, Austerians utterly wrong – at vast human cost” – so wrote Nobel laureate Paul Krugman today.
The double dip recession is a result of George Osborne’s ideological agenda and rejection of stimulus economics, writes Cormac Hollingsworth.
The opposition, press and economists turned on the government today for the UK’s descent into a double-dip recession for the first time since the mid-seventies.
In the wake of the OECD’s forecast the UK will experience a double-dip recession, the question now is whether or not we are experiencing a triple-dip.
The OECD today forecast Britain was back in recession, with the economy expected to shrink by 0.1% in Q1 2012, following the 0.3% contraction in the Q4 2011.