Posts Tagged ‘economic slowdown’
According to the results of the National Institute of Economic and Social Research, UK’s economy doesn’t seem to recover until 2012 and it would see further decline in the coming days.
The study says that the current economic slowdown is quite similar to one that started in the early 80s.
The country’s economy has shrunk nearly 4.2 percent since May 08, and according to Alistair Darling, the economic downturn that started last autumn was somewhat beyond the expectation in many parts of the world. However, Alistair didn’t forecast how much contraction the UK economy will have to see during this year.
UK Prime Minister Gordon Brown says that world leaders must take necessary actions to get rid of worldwide economic gloom and improving worldwide banking system.
“The London summit should try to make vigorous support and recovery as well as for new jobs in the global economy,” Brown adds.
“Because of the worldwide economic slowdown more than 100m people have been forced to live below the line of poverty and the poorest countries of the world definitely need a helping hand in such chaotic situations.”
