United Kingdom is in an even deeper recession

Update (24 May 2012): the second estimates shows that the UK economy contracted by 0.3% in the first quarter instead of 0.2% in the first estimate, which shows that the UK’s recession is probably deeper than once thought.

Original (25 April 2012): The latest figure from the Office for National Statistics of the United Kingdom suggests that the UK economy contracted by 0.2% in the first quarter, the second consecutive contraction in real term, making the UK economy technically in a recession.

Source: Office for National Statistics

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About Zarathustra

Zarathustra: Founder and Managing Editor of Also sprach Analyst. Once an analyst, now an investor and entrepreneur. Based in Hong Kong, but Londoner at heart.