25.04.12

Sterling Falls as UK Officially Enters Technical Recession

The pound took a pounding this morning after worse than expected UK GDP numbers were released. We have now seen the UK fall back into recession as the GDP figures came in at -0.2% from an expected 0.1%. The official way of registering a recession is to have two consecutive quarters of negative GDP numbers, unfortunately something which has now been realised.

Categories: economics, sterling.