The British economy is heading for an unprecedented triple dip recession, experts warned today.
The Office for National Statistics confirmed the economy shrank by 0.3 per cent in the last three months of 2012. Poor wages and dire weather in the start of 2013 means growth is not expected to have returned.
The news will pile pressure on Chancellor George Osborne who was last week forced to admit growth predictions for the whole of this year had been dramatically halved – down from 1.2 per cent to just 0.6 per cent.
Tag Archives: Recession
Britain on the brink of a triple-dip recession as official figures confirm economy shrank at the end of 2012 | Mail Online
Friday 4th Jan: The Telegraph and others reported that fears are growing that Britain could enter a triple-dip recession as analysts showed the service sector had contracted for the first time since 2009.