Friday, October 24, 2008
GDP down 0.5% - recession starts here
Posted by David Smith at 10:00 AM
Category: Thoughts and responses

Britain's gross domestic product had been expected to drop by 0.2% or 0.3% in the third quarter but in the event fell by 0.5% and was only 0.3% higher than a year earlier. Manufacturing, down 1%, and construction, down 0.8%, have dropped again, after falling in the previous quarter. Service sector output fell by 0.4%, after rising marginally in the previous quarter. More details here of the first GDP fall since 1992.