Monday Apr 29, 201303:11 PM GMT
Heavy snowfall badly affects UK economy
Recent reports have shown that the UK economy is being dangerously hit with snowfall hazards.
Recent reports have shown that the UK economy is being dangerously hit with snowfall hazards.
Mon Jan 21, 2013 7:33PM
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The UK economy is being dangerously hit with the latest heavy snowfall that caused a loss of working days for manufacturers and builders, as well as falls in other major businesses, local media reported.


Richard Dodd from the British Retail Consortium, a body representing the country's major chains, said: "At a time when retailers are already under pressure, bad weather which keeps people from going shopping is very bad news."

It will be revealed this week that the UK’s ailing economy shrank once again in the fourth quarter of 2012 and it is predicted the snowy conditions could now push the first quarter of 2013 into the red.

The hazardous weather conditions across Britain has caused commuters to struggle getting to work, while airlines and train operators were held up with a blanket of snow and ice.

The snow brought about a loss of working days for manufacturers and builders, allied to falls in business for shops and restaurants.

Shop owners and workers on a deserted Oxford Street, central London's main shopping destination said trade had been hit heavily since Friday.

Chief European and UK economist Howard Archer said, "With the bad weather looking set to continue well into this week and possibly beyond, the risk of a triple dip recession is growing by the day."

BGH/MOL/HE
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