News and Events

UK re-enters recession


The UK has been confirmed to have re-entered recession after the economy contracted by 0.3% during the first three months of the year.

It's the first time the UK has recorded a double-dip recession since 1975 and raises questions as to whether the coalition government's strategy to return the country to growth is right.

Ahead of next week's local elections, it's not the news that George Osborne and co would have been hoping for following the 0.2% contraction during the final quarter of 2011, and it remains to be seen whether it will convince voters to cast their votes elsewhere.

For businesses it reaffirms just how challenging and unstable the economic climate remains, and puts an emphasis on ensuring they're benefiting from the most suitable cash flow solutions and that their processes - in particular their credit management - remains as efficient as possible.