January 23, 2009
UK recession hits
Story link: UK recession hits
So many news sources have been suggesting that we have been a recession for quite some time, which is not actually true. A recession is two quarters of negativity within the economy, so now, for the first time since 1991, we are in a recession.
The UK is now in recession for the first time since 1991, official government figures have confirmed.
Gross domestic product fell by 1.5% in the last three months of 2008 after a 0.6% drop in the previous quarter.