Britain Faces Largest Economic Decline Since 1921
The Times reports that Britain’s economy dropped in 2009 at the largest decline since 1921.
Although there was hope, as well as positive forecasting, that there would be a fourth quarter rise out of the recession for Britain in October, November, December 2009, that was not to be the case. The rise only reflected a 0.3 percent increase compared to the third quarter, according to the National Institute of Economic and Social Research (NIESR) .
This is a bigger drop for Britain than annually during the Great Depression in addition to being their largest economic contraction, at only 4.8 percent, in 88 years.
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