GDP growth fell faster than predicted in fourth quarter
Not the best of news this – the article reveals
Britain’s economy begun the year even weaker than predicted, as GDP growth fell by 0.3 per cent in the final quarter of 2011.
The Office for National Statistics said it had downwardly revised GDP estimates from 0.2 per cent at the end of last year, largely driven by falling business investments.
The ONS said there were also surprises in services, household spending and manufacturing.
The services sector, which accounts for the bulk of the economy and includes consumer spending, had been expected to flatline in the fourth quarter of 2011, but actually fell by 0.1 per cent.
Household spending returned to growth at the end of the year, but was still one percentage point lower than the same quarter in 2010
I wonder what the impact on top of this persistently poor performance, of a tanker drivers strike would be on the economy of rural England?