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UK economy in double-dip recession
|Last Edited||Picimpalious Apr 26, 2012 06:49am|
|News Date||Wednesday, April 25, 2012 02:00:00 PM UTC0:0|
|Description||The UK economy has returned to recession, after shrinking by 0.2% in the first three months of 2012. |
A sharp fall in construction output was behind the surprise contraction, the Office for National Statistics said.
A recession is defined as two consecutive quarters of contraction. The economy shrank by 0.3% in the fourth quarter of 2011.