UK Triple Recession Real Threat
Published / Last Updated on 24/01/2013
UK Triple Recession Real Threat.
The Office for National Statistics has released figures that growth in the UK for the third quarter 2012 fell by 0.3%.
In simple terms, overall growth for the UK in the whole of 2012 was 0%. There was no economic growth.
What this means
The UK economy is flat, the Summer Olympic growth effect of 0.9% is reversed and Britain is in real need of stimulation or it will return to a third, ‘triple dip’ recession.
This will impact if tax revenue, it will also mean the UK AAA rating is at risk.
Growth is expected this year, but it is a long and rocky road to recovery.
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