Economy heads for recession with fall in Q4 GDP

25th January 2012 · 0 Comments

LONDON (Reuters) – Britain’s economy edged closer to recession in the last three months of 2011, after output contracted for the first time in a year, official data showed on Wednesday. The figures are likely to reinforce expectations the Bank of England will inject more stimulus into the economy next month after Bank Governor Mervyn King warned of an arduous recovery ahead.