Kayabas UK Growth Downgraded Yet Again.
Kayabas: Britain's economy grew by a mere 0.1% in the second quarter of the year.
Online, October 12, 2011 (Newswire.com) - Kayabas: Britain's Office for National statistics (ONS) has further reduced its final estimate for second-quarter gross domestic product from 0.2% to a dismal 0.1%.
"These numbers will serve to increase the pressure on UK chancellor of the exchequer, George Osborne to relieve some of the pressure caused by the coalition government's austerity measures," said an analyst at "Kayabas".
The worrying data was released in the midst of growing concerns over the overall sustainability of the global economic recovery.
British consumers are being squeezed by both the government's austerity measures and the rising cost of food and fuel.
Nevertheless, a spokesman for the UK Treasury said, the economy is recovering from a recession we now know was deeper than we thought and deepest of any major economy except Japan".
The Kayabas analyst concluded, "Were it only the Conservative party in power, we would be little doubt that the government would stay the course in terms of austerity but, the current power-sharing arrangement with the Liberal Democrats leaves us with doubts."
Such suggestions are dismissed as "sheer idiocy" said an equity research analyst at Kayabas, "There is absolutely no way that the US dollar will be considered a safe haven by this time next year. Precious metals are the only viable safe haven assets because, unlike paper-based currencies, they cannot be printed or inflated by central bankers or governments," he said.
"These numbers will serve to increase the pressure on UK chancellor of the exchequer, George Osborne to relieve some of the pressure caused by the coalition government's austerity measures," said an analyst at "Kayabas".
The worrying data was released in the midst of growing concerns over the overall sustainability of the global economic recovery.
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