Causes: Uncompetitive motor industry, inflationary pressures, credit squeeze caused by high bank rate, effects of the Suez crisis – oil embargo by NATO and other Arab countries.
Period in Recession
1956 Q2: -0.2%
1956 Q3: -0.1%
Total of 2 quarters in recession.
Read Full News Story » Five Years of UK Recessions Since Joining the EEC/EU in 1973