Loans and Finance

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Tuesday, December 23, 2008


The Times reports:

"Britain's economy shrank during the third quarter of the year for the first time since 1992 and endured the worst single quarter since 1990, it was revealed today.

The Office for National Statistics (ONS) said gross domestic product (GDP) from July to September was down 0.6 per cent on the previous quarter. The contraction came at a faster rate than previously thought, and was down from last month’s initial estimate of a 0.5 per cent contraction

Given the fact that the figures supplied by the ONS are, more often than not, unreliable and most certainly out of date the situation is presumably far worse.

Given the above, it would be best for people to try to make the most of this Christmas before things get worse.

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