Monday, July 11, 2011

U.K. Economy May Have Shrunk in Three Months, Sunday Times Says

July 10 (Bloomberg) -- The U.K.’s economy may have shrunk
by as much as 0.2 percent over the past three months, the Sunday
Times reported, citing estimates by Citigroup Inc. and Scotia
Capital.
    Economists revised their forecasts Friday following
disappointing figures for manufacturing and construction,
according to the British newspaper. JP Morgan Chase & Co.
predicts that the U.K. economy remained flat over the period,
while the Royal Bank of Scotland Group Plc and Barclays Capital
believe the economy may have continued to expand, the newspaper
reported.

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