U.K. Economy Contracts for 9 Consecutive Months (EWU)

U.K. GDP fell more than expected second quarter. At -0.7 percent, the GDP contraction was the largest since the first quarter of 2009. The number was lower than an average analyst expectation of -0.2 percent. In the first quarter, U.K GDP contracted by 0.3 percent. Overall, U.K’s economy contracted for 9 consecutive months, stoking fears of a double dip recession. Critics say the contraction is related to austerity measures and poor fiscal policy.

iShares MSCI United Kingdom Index (NYSE: EWU) is lower by 4.75 percent year-to-date.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Crude Inventory Fell 1.7 Million Barrels Last Week - EIA
• U of M 1 Yr Inflation (Jul P) 4.2% vs 4.4% Expected, 5-10 yr 3.3% vs 3.3%
• Initial Jobless Claims 208K vs 217K Expected