Britain is still in worst slump since 1945

New figures show that Britain is officially stuck in the worst recession since the war.

Hopes were high early this week that revised figures for the third quarter would show that growth had flatlined, or even risen. But the new GDP figure was a disappointing -0.2%, compared to a previous estimate of -0.3%. Downward revisions in industrial and services output offset improvements in business investment and construction. New figures also show that we are officially stuck in the worst recession since the war: GDP has fallen by a total of just over 6%.

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