NEWS
25/01/2013 07:49 GMT | Updated 25/01/2013 07:49 GMT

GDP Figures Show UK Economy Shrank At End Of 2012 As Triple Dip Recession Looms

Britain's recovery slammed into reverse at the end of last year after the economy contracted by a worse-than-expected 0.3%, official figures revealed today.

The fall in gross domestic product (GDP) between October and December compares with 0.9% growth in the third quarter and will raise fears that the UK is on course for an unprecedented triple-dip recession.

GDP - a broad measure for the total economy - would have to contract again this quarter for the UK to be back in recession, but hopes of a rebound are starting to fade after a snow-hit start to 2013.

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