Belfast Telegraph

Friday 28 November 2014

Triple-dip recession on cards for UK

The UK is on the brink of a triple-dip recession today after new figures confirmed the economy contracted by 0.3% at the end of 2012.

The Office for National Statistics stuck by its previous estimate for the fourth quarter, although it now thinks the UK economy grew by 0.3% across the whole of last year, rather than previous guidance of 0.2%.

GDP figures for the fourth quarter are due at the end of April, with the recent cold weather increasing the chances of two successive quarters of contraction, which would represent a return to recession.

The stagnant performance reflects a fall in industrial production of 2.1% in the fourth quarter and the biggest fall since the first quarter of 2009.

COMMENT RULES: Comments that are judged to be defamatory, abusive or in bad taste are not acceptable and contributors who consistently fall below certain criteria will be permanently blacklisted. The moderator will not enter into debate with individual contributors and the moderator’s decision is final. It is Belfast Telegraph policy to close comments on court cases, tribunals and active legal investigations. We may also close comments on articles which are being targeted for abuse. Problems with commenting? customercare@belfasttelegraph.co.uk