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Entrepreneurs Panel

Richard O'Sullivan
Laura Tenison
Michael Oliver
David Pollock
Debbie Pierce
Jeremy Roberts
Tony Caldeira
Charlie Mullins
Julie Meyer
Brian Hay
Steve Purdham
Jennie Johnson

Category: GDPSyndicate content

The economy grew almost twice as fast as expected in the second quarter of this year, according to the latest figures.

The UK economy shrank at its fastest rate in 30 years in the first three months of 2009, according to the Office for National Statistics.

GDP fell 1.9 per cent on the quarter, the biggest fall since 1979.

On the year, GDP fell by 4.1 per cent, the biggest annual drop since the end of 1980. Analysts had expected a 3.8 per cent fall.


Data from the Office for National Statistics shows that GDP fell 1.9 per cent in the fourth quarter of last year compared with the year before, up from the earlier estimate of 1.8 per cent.

It was the worst performance since the second quarter of 1991.

For the year, GDP rose by 0.7 per cent over 2007, down from 3.0 per cent in the previous year.

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Five Minutes With

David Hughes sums up his entrepreneurial career to date thus: four spectacular successes and two failures. He founded the sports retailer Allsports and achieved turnover of £180 million before a vicious price war meant decline, administration in 2005 and a sell-off to rival JD Sports.

It took Richard Shonn, managing director of 151 Products, three years to find a warehouse big enough for his requirements.