UK economy: Why is it shrinking?
- 30 August 2012
- From the section Business
Latest official figures show that the double-dip recession in the UK has deepened.
In the second quarter of the year, that is, between April and June, the output of the economy shrank by 0.5%. This decline has shocked many, although it is better than the original estimate of 0.7% contraction.
But what is behind that number? Are there any brighter points and which sectors of the economy are being hit hardest by the downturn?