Are you sitting down? Prepare for a terrible shock....

[DimPrawn]

BBC News - UK economy suffers 0.5% contraction

The UK's economy suffered a shock contraction in the last three months of 2010, figures have shown.

The economy shrank by 0.5% in the October-to-December period, the Office for National Statistics (ONS) said.



My god, who could have foreseen this "shock" contraction of the doomed British economy? It's almost as if the coalition have done almost nothing since coming to power whilst the banks are left unchecked to gorge on cheap money as they always do.

[Mich the Tester]

kuatb

[DimPrawn]

Sorry, been very busy lately.

I think we need a PM here to sort out who posts the good news and who posts the bad news.

[TimberWolf]

FT.com / Currencies - Pound slides after UK growth shock
...and doused expectations that the Bank of England would raise interest rates to fight inflationary pressures in the British economy.

More printing?

Gold had been taking a panning against GBP in the past week for some reason.

[DimPrawn]

This is the excuse the BoE have been waiting for to unleash another £200bn of printing.

The pound in your pocket......Oh Dear™

[MrRobin]

Mods... please can this thread be merged with the other 2 relating to the GDP statement?

Ta.

[DimPrawn]

Mods... please can this thread be merged with the other 2 relating to the GDP statement?

Ta.

Oi!

No, the other thread should be merged with THIS one.

[gingerjedi]

This is the excuse the BoE have been waiting for to unleash another £200bn of printing.

The pound in your pocket......Oh Dear™

But I'm skint and massively in debt... boomed Shirley?

[DimPrawn]

But I'm skint and massively in debt... boomed Shirley?

Yep, you are onto a winner.

Have a laugh at all those prudent savers.