Britain stays in recession – GDP data market reaction: Sterling tumbles

Shock economic figures today stunned the City by revealing that Britain is wallowing in its longest recession since records began.

The official statistics — which showed that the economy contracted by 0.4 per cent — prompted a furious new row about the Government’s handling of the economy.

The figures, from the Office for National Statistics, mean that national output has now fallen for an unprecedented six successive quarters.

Martin Bentham and Joe Murphy
23.10.09

Full article here: London Evening Standard



Sterling gets hammered against the dollar:

sterling-gets-hammered-against-the-dollar

… and against the euro:

sterling-gets-hammered-against-the-euro

By Miles Johnson
Oct 23, 2009 09:51

Full article here: Financial Times

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