UK back in recession with -0.2% growth

Any figure below 0% would have put the UK firmly in double-dip territory following growth of -0.3% in the final quarter of 2011. Consecutive quarters of negative GDP is commonly taken to mean an official recession. The last time the UK entered recession was in Q2 2008, and did not return to positive growth until over a year later (Q3 2009). Today's figure constitutes only the first estimate by the ONS, and is based on about 40% of the information it will eventually use to reflect real Q1 activity. Despite the disappointing numbers, David Miles, from the Bank of England's interes...