U.K. Manufacturing Figures Suggest Triple-Dip Recession
Not so encouraging
Britain was staring at its first triple-dip recession today after "awful" manufacturing figures, with Economists warning the UK was likely to fall back into recession just months after climbing out of the last one on the back of the Olympics.
In a blow to George Osborne's policies days before the Budget, manufacturing output slid by 1.5 per cent during snow-hit January — worse than expected in the City.
Alan Clarke, economist at Scotiabank, said: "This is the penultimate nail in the coffin in terms of triple-dip, it's pretty much game over now. Unless we have a stellar performance from the services sector, we're almost certainly in a triple dip."