Tuesday, 30 September 2008

UK growth flat in the second quarter

The ONS has just confirmed zero economic growth for the second quarter, strongly suggesting that the UK is well on its way to an outright recession.

Manufacturing took the biggest hit, falling 3.6 percent on an annualized basis.

Nothing unusual there. Manufacturing has been in recession for at least two decades.

1 comment:

Anonymous said...

Wait for the downward revision.