UK economy continues to contract

Story link: UK economy continues to contract

The UK economy is constantly contracting, loosing more and more revenue each day, with latest figures suggesting that the last three months of 2008 showed a decrease in activity of around 1.5% in comparison with 2007.

UK economy continues to contract

The UK economy shrank by 1.5% in the last three months of 2008, official figures have confirmed, unrevised from the initial estimate issued in January.
However, the data also showed a 0.7% contraction in the July to September quarter, worse than the original estimate of a decline of 0.6%.