Tuesday, December 22, 2009

The reason there will not be an early election

From today's Times;

Britain today cemented its position as the only G20 country still in recession as new figures confirmed that the economy shrank by 0.2 per cent between July and September.

Analysts had forecast that today's figure — the final estimate of national output for the third quarter — would show that the economy stopped contracting or even grew.

But while gross domestic product (GDP) contracted at a slower pace than the previous -0.3 per cent reading, the figures confirmed a sixth successive quarter of recession – the country’s longest downturn in history.

They'll have to wait for the next quarter's figures then.

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