THE UK economy stalled in February after growing in January, according to GDP data released today. The latest figures show the economy stayed flat at no growth, compared to growth of 0.4% in Januar…
Bosses predicted a “rocky road” ahead for the world economy — with UK output shrinking and the risk of global recession rising.However, Andrew Bailey, the governor of the Bank of England,The UK economy was on a return to growth in January after itDavid Bharier, head of research at the British Chambers of Commerce said: “Although today's GDP figures indicate the UK economy continues to technically avoid a recession, it’s now clear we are stuck in a prolonged period of almost no growth.
"The business environment needs to improve quickly to ensure confidence doesn't fall back to the levels we saw last year. "While last month’s Budget included several positive measures for the economy, it did not go far enough to shift the dial on growth which remains stubbornly low."GDP figure is a measure of the size of an economy. If it's rising then the economy is growing, if it's falling then it's shrinking.
A healthy economy is one that is growing and not in recession, meaning today's figures are neither good nor bad.The UK last went into recession, and there was a more severe one in 2008/9 when the global financial crisis hit. Going into recession can have a big impact on your finances and job losses are common as companies let people go to cut their costs and stay afloat.This, in turn, means the government gets less
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