Arab Today, arab today uk thirdquarter growth revised down to 09
Last Updated : GMT 18:42:31
Arab Today, arab today
Arab Today, arab today

UK third-quarter growth revised down to 0.9%

Arab Today, arab today

Arab Today, arab today UK third-quarter growth revised down to 0.9%

London - AFP

Britain\'s economy grew by a worse-than-expected 0.9 percent in the third quarter, downwardly-revised data showed Friday, sparking fresh speculation over a possible \"triple dip\" recession, analysts said. \"UK gross domestic product (GDP) ... increased by 0.9 percent between the second and third quarter of 2012, revised from the previously estimated increase of 1.0 percent,\" the Office for National Statistics said in a statement. The slight downgrade was due to downward revisions to output from production and service industries, and to household consumption. Market expectations had been for no change. Despite the news, Britain -- a member of the European Union but not the eurozone -- still powered out of its longest double-dip recession since the 1950s between July and September. However, third-quarter growth was boosted by one-off factors, including the London 2012 Olympic Games and rebounding activity after an extra public holiday for Queen Elizabeth II\'s Diamond Jubilee Many experts believe that the British economy could experience a renewed downturn in the current fourth quarter. \"The UK Q3 national accounts confirm that GDP rose strongly in Q3, but we already know that activity in the fourth quarter has been much weaker and think that the UK may already be in a triple-dip,\" said Capital Economics analyst Vicky Redwood. \"The quarterly rise in Q3 GDP was revised down, but only marginally. Perhaps the most notable revision to the breakdown is that real consumer spending is now estimated to have risen by 0.4 percent rather than 0.6 percent. So without the Olympics boost, spending may well have fallen.\" Britain sank into the first phase of a double dip recession in 2008 as a result of the devastating global financial crisis that sparked a number of vast banking bailouts. The economy rebounded in late 2009 but struggled to stage a convincing recovery and fell back into a second downturn in late 2011, which lasted for three quarters, as the eurozone crisis loomed large. Activity has been hit hard also by deficit-slashing austerity measures from the nation\'s Conservative-Liberal Democrat coalition government. The BoE has sought to aid the recovery by slashing its key interest rate to a record low of 0.50 percent, where it has stood since March 2009, when it also launched its radical quantitative easing (QE) stimulus. \"All in all, the UK appears to be ending 2012 not in particularly great shape,\" added ING economist James Knightley on Friday. \"As such we suspect the Bank of England has more work to do with further policy stimulus likely in early 2013.\"

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 uk thirdquarter growth revised down to 09 Arab Today, arab today uk thirdquarter growth revised down to 09

 



Arab Today, arab today
Arab Today, arab today Fadi explains secrets of  Nancy Ajram's newlook

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook
Arab Today, arab today Egyptian tourist guide explains types of tourism

GMT 18:28 2017 Saturday ,25 February

Egyptian tourist guide explains types of tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Iran complying with nuclear deal

GMT 07:14 2017 Saturday ,25 February

Iran complying with nuclear deal
Arab Today, arab today Zainab al-Maliki reveals herTV presenter models

GMT 18:12 2017 Friday ,24 February

Zainab al-Maliki reveals herTV presenter models

GMT 05:20 2017 Thursday ,23 February

WTO ratifies first multilateral trade deal

GMT 21:36 2017 Wednesday ,22 February

Opec needs to prolong cuts to eliminate surplus

GMT 16:32 2017 Wednesday ,22 February

US Treasury chief tells IMF to monitor currencies

GMT 16:08 2017 Wednesday ,22 February

Qatari banks merger to rebalance financial sector

GMT 05:57 2017 Wednesday ,22 February

Britain risks clash with EU over RBS bailout
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Actress Lobna Abdel Aziz proud of her career

GMT 06:08 2017 Thursday ,23 February

Actress Lobna Abdel Aziz proud of her career
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 07:36 2017 Wednesday ,22 February

Wafaa Amer is happy for Sherihan’s return

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 10:20 2017 Thursday ,23 February

Brazil's top diplomat resigns

GMT 11:54 2017 Thursday ,23 February

Saudis await visitors but will they come?

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
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