British economy set to 'bump along the bottom'

As Britons prepared for the extra-long diamond jubilee bank holiday, the celebrations were marred by confirmation that the economic slump is worse than feared.

26th May, 2012
Mervyn King: has acknowledged the likely pattern for Britain's economy for the next few quarters, and described it in January as a zig-zag.

As Britons prepared for the extra-long diamond jubilee bank holiday this weekend, the celebrations were marred by confirmation that the economic slump is worse than feared.

Britain was already in an official double-dip recession before the announcement by the Office for National Statistics last week that the economy shrank by 0.3 per cent during the first three months of this year, ahead of the 0.2 per cent reported in its first estimate.

To blame was another lacklustre...

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