U.K. Economy Continues to Shrink

October 28, 2009 at 8:00 am

The U.K. economy contracted for a record sixth consecutive quarter, underscoring the country’s lagging position compared with other leading nations and dealing a blow to Prime Minister Gordon Brown’s re-election prospects.

In its preliminary estimate Friday, the Office for National Statistics said output fell 0.4% in the third quarter from the second, and 5.2% from the year-earlier period. The negative reading startled economists: Almost all had forecast that the U.K. would begin to show signs of growth. (By ALISTAIR MACDONALD,The Wall Street Journal, OCTOBER 24, 2009)

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Entry filed under: Business Environment, European Union, Great Britain, NKITA.

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Travel with the Northern Kentucky Chamber in 2012

Peru - August 12-20, 2012
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