BBC: UK in Double Dip Recession - Spear's Magazine

BBC: UK in Double Dip Recession

The UK economy has returned to recession, official figures have shown.

The UK economy has returned to recession, official figures have shown.

The economy shrank by 0.2% in the first three months of 2012, the Office for National Statistics (ONS) said. This followed contraction of 0.3% in the last three months of 2011.

The ONS said there was a sharp 3% fall in construction output, the biggest fall for three years, adding that it had double-checked the figures.

A recession is defined as two consecutive quarters of contraction.

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