Austerity Sends Great Britain Towards ‘Triple Dip’ Recession

Great Britain’s service sector unexpectedly shrank in December, bringing the prospect of a “triple dip” in the UK closer to reality. The service sector in the UK hadn’t contracted since 2010. Great Britain’s economy has been struggling to escape the weight of austerity measures implemented by Prime Minister David Cameron’s conservative government, which sent the country into a double-dip recession. Cameron’s government has already signaled that it will extend austerity into 2018.