The worse-than-expected total from a Office for National Statistics (ONS) will boost a vigour on a Chancellor George Osborne to announce an mercantile Plan B in his Mar Budget to boost expansion and delayed a gait of his spending cuts.
Today's total were unsatisfactory since they showed that production declined by 1.5 per cent between final Oct and Dec compared to a prior 3 months, while a services zone was flat. Construction rose by 0.3 per cent in a final quarter.
If a economy also contracts in a initial 3 months of this year, a UK will be behind in retrogression for a third time in 5 years. The bad continue could subdue a initial entertain figures, adding to a risk of a "triple-dip recession."
Joe Grice, arch economist during a ONS, said
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Source:
http://www.news.ezonearticle.com/2013/01/25/worse-than-expected-triple-dip-recession-looms-as-economy-shrinks-by-0-3/
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