Blog > International Investing > What the Dollar Bears won’t tell you: Britain’s economy at a standstill
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What the Dollar Bears won’t tell you: Britain’s economy at a standstill

Posted August 24, 2008

The Dollar Bears are still talking “de-coupling” and cashing out of the dollar… but the economic performance elsewhere ain’t nothing to brag about.

by BBC

Baltimore — (TFN): UK economic growth ground to a halt between April and June, according to the latest official figures. The Office for National Statistics said the economy stalled, showing no growth from the first quarter of 2008. It ends a run of more than 15 years of consecutive growth in the UK and will raise expectations of a rate cut.

The 0% growth figure was down from an earlier estimate of 0.2% and lower than the 0.3% growth recorded in the first three months of 2008.

The figures were the weakest since 1992 and the news sent the pound lower against the dollar and the euro.
The government said the economy was feeling the effects of global pressures such as high commodity prices and the continuing credit squeeze.

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