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Europe Live Saturday 25th May 2013

The United Kingdom officially in recession

29th May 2012

According to figures published on 24th May by the British National Statistics Office, GDP saw a 0.3% drop over the first quarter 2012. After falling by 0.2% in the last quarter of 2011, the United Kingdom therefore went into recession. Two days earlier the National Statistics Office had announced that the inflation rate in April had fallen by 0.5%, down from 3.5% to 3% between March and April. The inflation rate has not been so low since February 2010.

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