Let it snow, let it snow, let it snow!

Midweek Sport - - FRONT PAGE -

HEAVY snow could help Bri­tain avoid a dou­ble-dip re­ces­sion, ac­cord­ing to the Of­fice for Bud­get Re­spon­si­bil­ity.

Pro­fes­sor Stephen Nick­ell told MPS on the Trea­sury Se­lect Com­mit­tee that ex­treme weather – like snow – would lower eco­nomic ac­tiv­ity and gross do­mes­tic prod­uct (GDP).

The bounce back in the first quar­ter of next year would then pre­vent the two con­sec­u­tive quar­ters of shrink­ing GDP which tech­ni­cally in­di­cate a re­ces­sion.

This could be good news for the eu­ro­zone which saw growth stag­nate for the sec­ond quar­ter in a row, height­en­ing con­cerns the sin­gle currency bloc may be head­ing for a re­ces­sion.

In the three months to Septem­ber, GDP grew by 0.2 per cent com­pared to the pre­vi­ous quar­ter.

Although some economies around the world have been suf­fer­ing, out­put over the same pe­riod in both the UK and the US rose by 0.5%.


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