Europe Is Literally Imploding From The Inside: UK Heading Toward Third Recession In 4 Years, Spain’s Tax Revenue Drops 20% And Budget Deficit Grew by 35.4% In January, Eurozone Industrial Production Worse Than Expected As Unemployment Rises To Record Levels, And Italy’s Industry Chiefs Have Warned That The Country Faces A “Full Credit Emergency”
March 13th, 2013
UK Heading Toward Third Recession In 4 Years
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UK industrial production and manufacturing production dived in January, according to the latest official numbers released today.
The report raising fears that the UK is heading toward its third recession in only four years.
Sterling fell sharply on the news with GBP/USD reaching the lowest level of 1.4830, unseen since July 2010, before rebounding slightly….
Spain’s Budget Deficit Grew by 35.4% in January to 1.2% of GDP; Spain’s Tax Revenue Drops 20% in Face of VAT Hikes