Britain on the brink

Britain's economy stagnated in the three months to June as the country moves closer to recession. Year-on-year the rate of growth improves slightly to 1.4 per cent, but still misses analyst forecasts of 1.6 per cent. With the PMI haven recorded three successive months of contraction too, it’s no wonder the British Chambers of Commerce came out earlier this week warning of 300,000 job losses. So it looks like the economy really is under the wretched August weather.