United Kingdom slides back into recession
Linkedin

United Kingdom slides back into recession

London : United Kingdom | Apr 25, 2012 at 7:04 AM PDT
By send a private message
XX XX
Views: Pending
 
UFXMarkets *Weekly FX Currency Trading News* 8-January-2012

While attention falls upon Greece, Spain, Italy, Portugal and Ireland as the problem nations in Europe, the UK is not faring very well either. Recent austerity measures introduced in Britain no doubt were in part responsible for the fact that output fell for the second quarter in a row.

The Office for National Statistics reports that GDP (Gross Domestic Product) fell 0.2 per cent in the first quarter of 2012. In the last quarter of 2011 it had fallen by 0.3 per cent. In contrast many economists had been predicting slight growth of .1 per cent.

There were signficant declines in many sectors especially construction and there was also a fall in industrial output. The government's goal of reducing the deficit will recede further into the future as revenues decline.

The Bank of England claims there is a risk of further decline in the second quarter of 2012 as well. However, commentators claim the bank is unlikely to apply further stimulus measures such as quantitative easing because of worries about inflation. For more see this article.

Back
1 of 2
Next
The Bank of England decided against a further dose of quantitative easing
The Bank of England decided against a further dose of quantitative easing
northsunm32 is based in Brandon, Manitoba, Canada, and is an Anchor for Allvoices.
Report Credibility
 
  • Clear
  • Share:
  • Share
  • Clear
  • Clear
  • Clear
  • Clear
 
READ MORE: United Kingdom, Recession in the UK, uk gdp, Recessions, quantitative easing, inflation
More News From: London : United Kingdom
 
Advertisement
 
Post a Comment Comments: 4
Reply
Posted By NadeemIftekhar NadeemIftekhar | about 1 year ago
But then again, not only the countries listed above are facing this ever-growing danger; almost the entire world is becoming a 'victim.' Rated Up.
​
Reply
Reply By northsunm32 northsunm32 | about 1 year ago
Other countries outside of Europe certainly face problems and in particular the U.S. with a huge debt that will be sidelined until the election in November is over. However, some countries such as India China and other members of the BRICS are doing relatively well in terms of growth and at most face a slowdown.
​
Reply
Posted By northsunm32 northsunm32 | about 1 year ago
The situation varies globally.Some countries such as China seem to be actually attempting to slow down their growth to some extent. Countries such as Pakistan have huge economic problems much worse than Europe as do countries such as Yemen. But many of the BRIC countries are growing at a good pace.
​
​
Advertisement
 

News Stories

 

  • UK Falls Into Double-Dip Recession

    International Business Times
    The United Kingdom , Europe's third-largest economy, fell into recession in the first quarter as its gross domestic product fell 0.2 percent, a contraction that followed the fourth-quarter's 0.3 percent decline. Share This Story The decline, which is...

  • The Sterling Pound Drops as the Kingdom slips into Recession

    International Business Times
    The sterling pound reversed sharply to the downside against the low yielding U.S. dollar, cutting some of the gains recorded in the past week after the downbeat growth figures from the United Kingdom , where the pound fell on pessimism the royal...

  • U.K. Unexpectedly Contracts in the First Quarter of 2012

    International Business Times
    The United Kingdom released the gross domestic product figures for the first quarter of 2012, where the advanced reading showed that the royal economy contracted unexpectedly by 0.2% from the previous contraction of 0.3%, below estimates of 0.1%...

  • Britain slips into recession

    ITN
    Reuters/Russell Boyce Britain has slipped back into a double-dip recession, according to the Office for National Statistics (ONS). The nation's economy shrank by 0.2 per cent in the first quarter of this year, following a 0.3 per cent dip in the...

  • U.K. Economy Next EU Country To Double Dip

    International Business Times
    Britain's economy contracted in the first quarter, its second such consecutive decline, sending Europe's third-largest economy into a double-dip recession and giving ammunition to critics of Prime Minister David Cameron's austerity measures. Share...

  • UK Back in Recession as GDP Shrinks 0.2% in First Quarter

    International Business Times
    Chancellor George Osborne (Reuters) Britain's economy contracted by 0.2 percent in the first quarter of 2012 plunging the country back into recession, according to the Office for National Statistics (ONS). This is the second quarterly contraction...
More Related Stories

Blogs

 >

  • UK SLIDES BACK INTO RECESSION

    forexforums.com
    But unlike during the previous two quarters, it does not appear keen to provide further monetary stimulus through quantitative easing asset purchases, due to above-target inflation which looks stickier than before. What can YOU SAY about this ...

  • Blog Archive » UK slides back into recession

    oraia.co.uk
    But unlike during the previous two quarters, it does not appear keen to provide further monetary stimulus through quantitative easing asset purchases, due to above-target inflation which looks stickier than before. The BoE, and a number of ...

  • Beware of Further Losses in Forex | Kathy Lien | FX360.com

    www.fx360.com
    A small rise in inflation in March halted the decline – U.K. inflation came in at 3.5 percent, following February's 3.4 percent. The Bank England has been pursuing a quantitative easing program which is now valued at 325 billion pounds.

  • EUR resilience, AUD hit by soft inflation « ECONOMETER

    econometer.org
    Consequently risk assets will remain under a degree of pressure in the short term unless the Fed delivers any fresh hints of more quantitative easing tomorrow. A round of weaker than expected readings for Eurozone purchasing managers ...

Images

 >
 
More Related Images

More From London

Scandal convergence: The Obama administration's perfect storm

Scandal convergence: The Obama administration's perfect storm

John Kerry fighting new kind of 'cold war' at Arctic Council meeting

John Kerry fighting new kind of 'cold war' at Arctic Council meeting

Top US commander in Afghanistan denies civilians killed in April 6 airstrikes

Top US commander in Afghanistan denies civilians killed in April 6 airstrikes

One out of two ain't bad -- SNL's Seth Meyers to take over Late Night

One out of two ain't bad -- SNL's Seth Meyers to take over Late Night

American Pundit Writing Assignment May 16-31: Scandals and Obama's second term

American Pundit Writing Assignment May 16-31: Scandals and Obama's second term

Australia seeks to outlaw any repeat of Canadian incident of 'ocean fertilization'

Australia seeks to outlaw any repeat of Canadian incident of 'ocean fertilization'

Meet a Madagascar fossa

Meet a Madagascar fossa

Google will let you send money in a Gmail attachment

Google will let you send money in a Gmail attachment

More From Allvoices

Cartoons of The Day

Report Your News Got a similar story?
Add it to the network!

Or add related content to this report

News Stories | Blogs | Images | Videos | Comments

 
Tap_logo_330_110_event
 

Most Viewed Reports

Most Commented Reports

Contributor Report


Use of this site is governed by our Terms of Use Agreement and Privacy Policy.

© Allvoices, Inc 2008-2013. All rights reserved.