• Racial redress

    The next adult generation is at risk of being polarised on the basis of skin colour, says Solly Moeng.

  • To do list

    Keep separate lists to ensure your to-dos don't get cluttered and gain stress-free productivity, Ian Mann.

  • Clueless leaders

    Zim's leaders are clueless about managing the economy or leading the nation, says Malcom Sharara.

All data is delayed
Loading...
See More

British recession shallower than thought

Sep 27 2012 11:41
AFP

London - Britain's recession-hit economy shrank by less than thought in the second quarter compared with output in the first three months of the year, official data showed on Thursday.

"UK gross domestic product (GDP) in volume terms decreased by 0.4% between the first and second quarter of 2012, revised from a previously estimated decline of 0.5%," the Office for National Statistics said.

The slightly improved revision matched analysts' consensus forecast. GDP shrank by 0.5% in the April-June period compared with the second quarter in 2011, the ONS added in a statement.

Many analysts expect Britain to have emerged from recession in the third quarter, or three months to September 30. Markets will have to wait until next month for confirmation.

"The economy should rebound in the third quarter," said Vicky Redwood, chief UK economist at Capital Economics research group.

"But we still expect the underlying performance of the economy to remain weak and GDP may even contract again in the fourth quarter," she said in response to the latest data.

*Follow Fin24 on Twitter, Facebook, Google+ and Pinterest.

economy

NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Comments have been closed for this article.
 

Company Snapshot

We're talking about:

THE DEBT ISSUE

Debt is one of the biggest financial issues facing South Africans today. Find out how you can avoid and manage your debt with Fin24 and Debt Rescue.
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

Labour’s call for a cap on salary of high earners is?

Previous results · Suggest a vote

Loading...