Wednesday, July 25, 2012

British GDP figures to confirm worst double-dip recession in 50 years



Britain's longest double-dip recession for more than 50 years will be confirmed in official figures out on Wednesday.  Gross domestic product (GDP) – a broad measure for the total economy – is forecast to have shrunk by around 0.2% between April and June in its third straight quarter of contraction.  That would mark the longest double-dip recession since quarterly records began in 1955 and is believed to be the worst since the second world war.

http://www.guardian.co.uk/business/2012/jul/25/gdp-figures-recession-50-years

Anyone who follows shadow stats will know this has been going on much longer.  Not a huge fan of GDP obsession, but it shows that old stream media are slowly catching up to what the web has known for about 5 years...

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