Contraction “very disappointing”
(30 April 2012 – United Kingdom) The United Kingdom is reeling from a shock contraction from the start of 2012, as Britain’s gross domestic product falls a further 0.2 percent in the last quarter.
Pressure is mounting on Prime Minister, David Cameron, as the latest figures from the Office for National Statistics reveals the latest 0.2 percent fall compounds a 0.3 percent decline at the end of 2011, with Mr Cameron commenting that the latest figures were 'very, very disappointing'.
Mr Cameron told Parliament that he does not seek to excuse them or explain them away and that there is no complacency within the government in dealing with what is a very tough situation that has just got tougher.
The general sentiment amongst the nation’s economist was that Britain would see a small but modest growth at the beginning of 2012, and put the declines down to the biggest fall in construction output in three years, coupled with a slump in financial services and oil and gas extraction.
Mr Cameron told Parliament that he does not seek to excuse them or explain them away and that there is no complacency within the government in dealing with what is a very tough situation that has just got tougher.
The general sentiment amongst the nation’s economist was that Britain would see a small but modest growth at the beginning of 2012, and put the declines down to the biggest fall in construction output in three years, coupled with a slump in financial services and oil and gas extraction.
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