Friday, 19 February 2010

Double-dip recession fears intensify on dire retail figures

The Times
"Fears of a double-dip recession intensified this morning as the sharpest monthly fall in retail sales in one and a half years was revealed.The downbeat spending figures come the morning after a shock rise in public sector borrowing emerged, casting doubt over the recovery. The £4.3 billion deficit for last month is the first time on record that the Treasury has not recorded a January surplus.Treasury coffers were hit by a plunge in tax receipts prompting concern that Britain’s finances could be worse than those of Greece."

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