Tuesday April 7, 2020

Britain slips into first double-dip recession since 1975

Britain’s economy shrank in the first quarter as construction output slumped, pushing the country into its first double-dip recession since the 1970s.

25th April, 2012
Gross domestic product contracted 0.2 per cent from the fourth quarter of 2011, when it shrank 0.3 per cent.

Britain’s economy shrank in the first quarter as construction output slumped, pushing the country into its first double-dip recession since 1975.

Gross domestic product contracted 0.2 per cent from the fourth quarter of 2011, when it shrank 0.3 per cent, the Office for National Statistics said today in London. Analysts surveyed by Bloomberg News had predicted on average a gain of 0.1 per cent. A technical recession is defined as two straight quarters of contraction.

The report will...

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