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double dip recession

U.K. in First Double-Dip Recession since 1970s

The first double-dip recession since the 1970s forced Prime Minister David Cameron to defend his spending cuts in Parliament. By JENNIFER RYAN | BLOOMBERG | APRIL 2012 Gross domestic product fell 0.2 percent from the fourth quarter of 2011, when it declined 0.3 percent, the Office for National Statistics said today in London. The median of 40 estimates in a Bloomberg News survey was for an increase of 0.1 percent. A technical recession is defined ...Read full article...