Shrinking Economy

October 24, 2008

The econmoy shrunk by 0.5% in the third quarter of 2008. Two consecutive quarters of negative growth means we will officially be in a recession which now seems inevitable. The pound is trading 5% lower at $1.54 and FTSE is down 5.7% at 3854.88. There would be no more boom and bust Brown told us. The bust has just started.