British economy predicted a record since 1980 recession.

UK GDP in the fourth quarter of 2008 fell by a half percent, a record decline since 1980. The data presented National Institute for Economic and Social Research (NIESR) before the publication of official statistics, reports Bloomberg.
Calculations of the London-based institute can be considered sufficiently accurate, as well as customers of the organization are, in particular, the Ministry of Finance and the Bank of England.
According to the NIESR, in the third quarter of the UK economy fell by 0.6 per cent, with the decline was only in the last 16 years. Curiously, according to official statistics, GDP in the second quarter decreased to only 0.5 per cent.
The main reason for the fall in GDP in the UK has become a world financial crisis, in the second half of 2008 in the economic overage. Because of his many countries around the world have already entered into a technical recession, defined as a decline in GDP in the next two quarters. In particular, the technical recession occurred in Sweden, Germany, Italy, Spain and Japan.