Analysts annouced Friday that Britain has officially slipped into recession. Latest figures suggest that the last quarter saw the worst quarterly contraction since 1980.

In the last three months of the fourth quarter in 2008, the British economy contracted by 1.5%. This makes it the worst performance in over 28 years, according to the Office for National Statistics.

According to Gordon Brown, British Prime Minister – the recession currently sweeping Great Britain is as severe as the Great Depression, but instead of taking part in responsability, he pointed towards the sub-prime crisis in the United States.

The full release from the Office for National Statistics can be found here.

Image by timparkinson under Creative Commons.

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