On officially entering the recession which everybody knew had arrived already, UK economists are surveyed. If you dont want to know the results, look away now”Not only do Q3’s GDP figures confirm that the UK has entered a recession, but the 0.5% drop (consensus 0.2%) is truly shocking.
“This figure is worse than we expectedŔ
Ӆany significant recovery currently seems unlikely before 2010, and even then growth is likely to be below trend.”
For the services sector to shrink for the first time since 1992 marks a turning point in the economic fortunes of the UKŔ.
World wide The sell-off in sterling and the sharp drop on European and Asian stockmarkets suggests that the troubles of rest of the world are only just beginning..
But its an ill wind.. Go-Ahead is just the latest in a series of bus and train operators to report soaring demand in recent weeks, with ever more drivers choosing to leave their cars at home.
Former BBC journalist and manager in Belfast, Manchester and London, Editor Spolight; Political Editor BBC NI; Current Affairs Commissioning editor BBC Radio 4; Editor Political and Parliamentary Programmes, BBC Westminster; former London Editor Belfast Telegraph. Hon Senior Research Fellow, The Constitution Unit, Univ Coll. London