THE GUARDIAN: Six successive quarters of negative economic growth from spring 2008 until autumn 2009 were the toughest for the economy since the Great Depression of the 1930s
The deepest recession in Britain's post-war history was even more severe than previously feared, the government said today.
Fresh information collected by the Office for National Statistics showed that the peak to trough decline in output was 6.4% of gross domestic product rather than the original 6.2% estimate.
The new figures confirmed that the six successive quarters of negative growth from spring 2008 until autumn 2009 were the toughest for the economy since the Great Depression of the 1930s, harsher even than the slump of the early 1980s. Continue reading and comment >>> Larry Elliott, economics editor | Monday, July 12, 2010