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Britain

What is happening to the UK economy?

by mark on October 23, 2009

UK debt is mounting!

UK debt is mounting!

While many expats have left the UK for foreign lands we have seen literally hundreds of thousands of people flocking to the UK to try and make a new life for themselves. However, the economic situation in the UK has worsened over the last few weeks and there are now serious concerns that the UK is lagging other developed countries around the world and could remain subdued for some time to come. So what exactly is going on with the UK economy?

Economic growth

Today’s GDP figures (Gross Domestic Product) confirmed that the UK economy is still deep in recession having contracted by 0.4% in the third quarter of 2009. This was against analyst expectations of growth of 0.2% in the third quarter of 2009, which reflects the concern about the ongoing weakness of the UK economy. This is the sixth consecutive quarter that the UK economy has contracted and indeed many analysts believe the UK will end 2009 deep in recession and we could in fact see a W was shaped recession in 2010, with further falls across the board.
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