Breaking News – economy contracted in last three months of 2010

The BBC reports:

The UK's economy suffered a shock contraction in the last three months of 2010, figures have shown. The economy shrank by 0.5% in the October-to-December period, the Office for National Statistics (ONS) said. The severe weather hit activity in the quarter, but the ONS said even if the weather impact had been excluded, activity would have been "flattish".

Break out the 'procurement strategies in a time of stagflation' textbook.

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