Original Article: http://blogs.wsj.com/source/2012/06/01/jubilee-will-lengthen-u-k-recession/
As Britons celebrate Queen Elizabeth II's 60 years on the throne with one extra holiday, the UK economy is likely to suffer from this day off. Although national holiday usually boosts consumption, the fact that national output will come to a stop for the day exerts exceptional pressure on the GDP for the second quarter. Furthermore, some factories, especially smaller ones, are likely to shut down for up to a week. The significant loss on output will negatively influence the GDP calculation for the second quarter and leave it very little time to recover. As can be expected, a bad quarterly GDP number will dampen market confidence, discouraging business from expanding and households from consuming. This will be likely to further decrease the GDP value for the year. As the UK has unexpectedly returned to recession in the first quarter of 2012, this blow will be vitally destructive as UK strives for a recovering economy.
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