British Economy Slides In Recession

The British economy officially entered a recession in the fourth quarter, according to data released Friday, while in Spain, half a million more people lost their jobs during the period, pushing the unemployment rate there to the highest level in

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The British economy officially entered a recession in the fourth quarter, according to data released Friday, while in Spain, half a million more people lost their jobs during the period, pushing the unemployment rate there to the highest level in more than eight years, International Herald Tribune reports.

British gross domestic product fell by a steep 1.5% from the previous quarter and was down 1.8% from a year earlier, the Office for National Statistics said in a preliminary estimate.

To read the full article please go to the International Herald Tribune’s web-site.

D.C.

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