Britain’s Wealth Has Suffered Biggest Decline in 60 Years

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Biggest drop in Britain’s wealth for 60 years.

Britain’s economic wealth has suffered its biggest decline in 60 years as the worst recession on record eliminated jobs and curbed spending, the Office for National Statistics said.  Gross domestic product per person dropped 5.5 percent from a year earlier, the most since 1949, the statistics office said in an e-mailed report from London today. However, household disposable income per person increased by 1.2 per cent, helped by falling mortgage-interest costs, the ONS said.

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