Research says economy shrank in 3 months to Aug
LONDON (Reuters) - Britain's economy shrank 0.2 percent in the three months to August after a 0.1 percent fall in GDP in the three months to July, the National Institute of Economic and Social Research said on Wednesday.
The think-tank had previously estimated that output grew 0.1 percent in the three months to July. It has never previously shown a fall in output since its monthly GDP series started in April 1996.
Official data showed the economy stood still in the second quarter and many analysts are now predicting Britain could suffer its first recession since the slump of the early 1990s.
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Credit headwind
News headlines speak of recovery, but financing is still a big problem in Germany. The dearth of credit to tide firms over is frustrating policymakers, who are blaming reluctant banks and there is little agreement on how best to increase lending flows. Full Article
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