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  • UK economy suffers shock 0.5% contraction.
  • SurroundedByZulus
    Free Member

    The UK’s economy suffered a shock contraction in the last three months of 2010, figures have shown.

    The economy shrank by 0.5% in the last quarter, the Office for National Statistics (ONS) said.

    December’s severe weather was expected to hit activity but economists had still forecast growth in the quarter of between 0.2% to 0.6%.

    There was 0.7% growth in the previous three months and 1.1% in the second quarter of 2010.

    http://www.bbc.co.uk/news/business-12272717

    The only shock in my mind is that it’s not a larger contraction.

    Zoolander
    Free Member

    Quite – hardly a shock!
    At least thi may stop the usual journos scare mongering about rates going up.

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