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The economy: On a wing and a credit card
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New figures released by Britain's Office of National Statistics in June 2013 show a difficult road ahead for the British economy. Britain's economy is suffering from a lack of investment. Investment by firms declining by 34% since 2008 in real terms. Spending on machinery and equipment declining by 33%. Exports are 1.5% lower, even after pound sterling has dropped by 25% in trade weighted terms since 2007. Manufacturing output is 11% lower than in 2008.
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