The figure for the whole year remains positive (+0,8%) and according to the National Statistics Office the worsening is due to the effects on the British economy of the eurozone crisis – Technically the country is not yet in a recession: it will become one only after two consecutive quarters with a negative sign
Britain's economy is losing steam. The contraction of GDP occurred in the last quarter of 2011 and according to the British National Statistics Office it was 0,2%, a much worse performance than the estimates, which predicted a decline, but only by 0,1%.
GDP growth for the whole of 2011 stands at +0,8%. GDP growth of 2011% was recorded in the third quarter of 0,6. Technically, the recession is defined after two consecutive quarters with a negative sign.
FIRSTonline is an independent web journal of economics, finance and stock exchange published by AL Iniziative Editoriali Srl with registered office in Rome, founded and controlled by Ernesto Auci e Franco Locatelli and owned by two minority shareholders (Alessandro Pavesi and Laura Rovizzi). The portal and its applications are created in daily life by two agile editorial offices, one in Milan and one in Milan Roma, and by an innovative and effective team of innovation and web managers.
