Economy

Ghost Dog

(16,881 posts)

102. UK economy shrinks; debt rises

Thu Jan 26, 2012, 03:19 PM

Jan 2012

Britain’s economy shrunk by 0.2% in the fourth quarter of 2011. Another negative result this quarter would put the economy back in official recession – two successive quarters of contraction – for the second time in three years. Public sector net debt reached the £1trn mark – 64% of GDP.

What the commentators said

Europe is the main culprit, said Philip Aldrick on Telegraph.co.uk. A slide in manufacturing exports undermined growth, which shows that the eurozone is “not putting its hand in its pocket anymore”. Normally it buys 40% of UK goods. A tightening in credit conditions can also be traced to euro-induced jitters in bank funding markets.

/... http://www.moneyweek.com/news-and-charts/economics/uk/uk-economy-shrinks-debt-rises-57306

Wankers.

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