Related News
Economy slips further 3.3%
BRITAIN'S economy shrank by 1.7 percent in the three months to January, taking the level of economic activity down 3.3 percent from its peak in April 2008, new estimates showed yesterday.
The National Institute for Economic and Social Research's estimate came after official data showed industrial output in the three months to December fell at its fastest quarterly rate since 1974 - when energy shortages due to a coal miners' strike forced the government to impose a three-day week.
"The rate of contraction shows, so far, little sign of easing," NIESR said, adding that any early easing in the pace of contraction depended on the success of government measures to get credit flowing again.
The Bank of England published more details of its 50-billion-pound (US$73 billion) Asset Purchase Facility on Friday, which allows it to help unfreeze credit markets.
The National Institute for Economic and Social Research's estimate came after official data showed industrial output in the three months to December fell at its fastest quarterly rate since 1974 - when energy shortages due to a coal miners' strike forced the government to impose a three-day week.
"The rate of contraction shows, so far, little sign of easing," NIESR said, adding that any early easing in the pace of contraction depended on the success of government measures to get credit flowing again.
The Bank of England published more details of its 50-billion-pound (US$73 billion) Asset Purchase Facility on Friday, which allows it to help unfreeze credit markets.
- About Us
- |
- Terms of Use
- |
- RSS
- |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证:沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证:31120180004
- |
- 网络视听许可证:0909346
- |
- 广播电视节目制作许可证:沪字第354号
- |
- 增值电信业务经营许可证:沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.