UK confirms economy at standstill

The UK economy saw no growth in the second quarter of 2008, while the gap in the current account widened to its highest level in almost a year.

Data from the Office for National Statistics (ONS) showed GDP stayed the same from the first quarter, confirming a previous estimate.

Growth was 0% in the second quarter of 2008 lower than the 0.3% growth recorded in the first quarter of 2008.

Analysts say the government may want to consider a cut in interest rates.

Courtesy of www.bbc.co.uk

 
 
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