Wednesday, November 25, 2009

Britain is last major nation in recession

Britain remains stuck in a record recession, official data showed on Wednesday, but economists forecast a return to growth before the end of the year ahead of a general election.

The economy shrank by 0.3 percent in the third quarter, compared with output in the previous three months, the Office for National Statistics (ONS) said in a statement.

This was an improvement on an initial ONS estimate given last month that said the economy had contracted by 0.4 percent between July and September.

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