A sign of relief in fourth quarter for UK government
After a very long time, there came a relaxing for the UK government when few business surveys stated that an unexpected increase has been noticed in export performance. There is also a strong consumption indicating a new start in the fourth quarter in the beginning of 2012. It’s the consumers who are offering the signs of hope in a tough time. In a situation of chaos where unemployment, inflation, recession and many more problems are affecting the Britain’s economy, it a news of relief where Britain's economy may start to boost itself but steadily and may avoid another recession after a rise in consumer spending and an upsurge in exports. And it will definitely help the economy of UK if it keeps to be continued.
There is an estimate by the Office for National Statistics (ONS) that in the final quarter of 2011 the economy shrank by 0.2 percent mainly due to a slump in investment at a time when the turmoil in the euro zone was at its most disruptive. The ONS has made the annual growth in the fourth quarter to 0.7 percent which is a slight downward revision which briefly pushed the pound lower against the dollar. At the end of 2011, there is a strong rise in exports coming after two quarters of falling sales abroad was mainly driven by the exports to non-European Union nations.
With substantial cuts to public spending still has to come. The Bank of England may still need to give further cash into the economy the euro zone which is the cause for recession in the months ahead. The ONS added that Consumer spending rose by 0.5 percent. This is the first quarterly increase in 1-1/2 years, while exports jumped to 2.3 percent. But there is a drop in gross fixed capital formation by 2.8 percent, with business investment falling 5.6 percent on the quarter. Need cash apply with short term loans for bad credit @ http://www.shorttermloansforbadcredituk.co.uk/ and get the needed funds quickly.
The dominant services sector stagnated at the end of last year as manufacturers and construction firms cut back production. Separate data indicates that services output grew by 0.2 percent in the month of December, said by the ONS. The Bank of England, who gave another 50 billion pounds of stimulus this month, hopes that the economy may start to recover with a weak pick-up later this year, because the consumers might spend more as easing inflation helps their stretched budgets.
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