Arab Today, arab today british economy shrinks in fourth quarter
Last Updated : GMT 19:16:56
Arab Today, arab today
Arab Today, arab today

British economy shrinks in fourth quarter

Arab Today, arab today

Arab Today, arab today British economy shrinks in fourth quarter

London - AFP

Britain\'s economy shrank 0.2 percent in the fourth quarter of last year compared with the third, official data showed on Friday, putting the country close to a return to recession. The Office for National Statistics (ONS) left its initial reading for gross domestic product (GDP) for the final three months of 2011 unchanged. A further contraction in the first quarter of 2012 would place Britain back in recession, defined as two successive negative quarters. The ONS also revised down its growth estimate for the whole of 2011 to 0.8 percent from the previously given 0.9 percent. The British economy struggled last year amid harsh state austerity measures, falling consumer spending and the ongoing fallout from the long-running sovereign debt crisis in key trading partner the eurozone. Economists said Britain\'s economic outlook was uncertain, despite recent encouraging industry data, with no resolution in sight to the eurozone crisis. \"A return to growth in the first quarter is by no means guaranteed and the country clearly faces a significant risk of sliding back into another recession,\" said Markit economist Chris Williamson. The ONS said household consumption increased 0.5 percent in the final three months of 2011 but was down 0.8 percent over the whole year. \"Within the gloomy headline, some good news is to be found,\" said economist Rob Harbron at the Centre for Economics and Business Research consultancy. \"UK consumers started spending again in the final three months of last year ... following four consecutive quarters of falling consumption. \"Consumer spending is important for UK growth as it makes up over three fifths of the total economy,\" he added. The Bank of England voted earlier this month to pump up the faltering economy with an additional £50 billion and to keep interest rates at a record-low 0.50 percent to head off any recession clouds. Policymakers voted to increase the BoE\'s Quantitative Easing (QE) stimulus by £50 billion (60 billion euros, $80 billion) to a total of £325 billion. Under QE, the central bank creates new cash that is used to purchase assets such as government and corporate bonds in the hope of giving a boost to lending and economic activity.  

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today british economy shrinks in fourth quarter Arab Today, arab today british economy shrinks in fourth quarter

 



Arab Today, arab today
Arab Today, arab today Heart of Turkish Riviera is Alluring Seaside Escape

GMT 11:11 2017 Tuesday ,28 March

Heart of Turkish Riviera is Alluring Seaside Escape
Arab Today, arab today 5 Crafty Must-Have Limited-Budget Ideas

GMT 17:03 2017 Saturday ,25 March

5 Crafty Must-Have Limited-Budget Ideas
Arab Today, arab today Russia, Iran ink economic deals

GMT 08:03 2017 Wednesday ,29 March

Russia, Iran ink economic deals
Arab Today, arab today Media host gives priority to problems of people

GMT 07:00 2017 Tuesday ,28 March

Media host gives priority to problems of people
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Disaster costs nearly double to $175bn

GMT 10:42 2017 Tuesday ,28 March

Disaster costs nearly double to $175bn
Arab Today, arab today Campaign fights sexual harassment in Egypt

GMT 11:14 2017 Tuesday ,28 March

Campaign fights sexual harassment in Egypt
Arab Today, arab today Trump moves to roll back Obama climate measures

GMT 08:39 2017 Wednesday ,29 March

Trump moves to roll back Obama climate measures
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Mercedes, VW recall million vehicles in China

GMT 09:16 2017 Wednesday ,29 March

Mercedes, VW recall million vehicles in China
Arab Today, arab today Uber grounds self-driving cars

GMT 09:11 2017 Monday ,27 March

Uber grounds self-driving cars
Arab Today, arab today Trump poised to roll back climate protections

GMT 09:28 2017 Tuesday ,28 March

Trump poised to roll back climate protections

GMT 18:57 2017 Tuesday ,21 March

Accessories designer reveals her new collection

GMT 11:10 2017 Monday ,27 March

Trump to roll back Obama clean power plan

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures

GMT 11:55 2017 Wednesday ,29 March

Need ‘gymspiration?’ The top fun fitness bloggers

GMT 09:02 2017 Thursday ,23 March

Laptop ban sparks ire

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 05:17 2017 Wednesday ,29 March

Samsung to sell refurbished Galaxy Note 7s

GMT 19:27 2017 Saturday ,11 March

Boualsof launches "Priestess Kahina" collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday