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New figures paint worse picture for UK economy

New figures paint worse picture for UK economy
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Britain’s economy shrank by more than forecast in the third quarter of this year, and for the first time since the early 1990s according to offical data just published. GDP fell by 0.6 percent, the biggest drop in 18 years. Certain sectors were particularly battered, with distribution, catering and hotels contacting by over two percent, the worst fall since 1980.

The figures suggest the UK is heading into a deep recession.

Rolls Royce aero engines have signed a deal with Etihad airways of Abu Dhabi worth four hundred and ten million euros. The contracts is to supply and maintain Trent seven hundred EP engines for eight Airbus three thirty aircraft, due for delivery between now and twenty eleven. They will bring Etihad’s Rolls Royce-powered fleet of A three thirties to twenty four aircraft. Rolls Royce adds recent improvements on new-build engines has improved fuel consumption by one point three percent.