Worst recession in 50 years
Gross domestic product shrank by 0.7% between April and June, taking Britain into its longest double-dip recession for more than 50 years, official figures have revealed.
Construction output drops by 5.2%
Our economy is shrinking much faster than anyone expected it to. Between April and June it contracted by 0.7 percent.
Yes, there has been exceptionally bad weather. Yes, the Jubilee events caused disruption to many firms. But looking at some of the figures, like a 5.2 percent drop in construction output, can that really be put down to one off factors?
The usual political arguments are already raging this morning. In the next few minutes I will be asking the Chancellor how he can explain what's happening.
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Osborne blames Labour as GDP shrinks again
Will the public accept Chancellor George Osborne's explanation on why the British economy is stalling?
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GDP figures show worst double-dip recession in 50 years
The economy shrank by 0.7% between April and June, leaving Britain in the longest double-dip recession in more than 50 years.
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Can the British economy sustain this downward slide?
New GDP figures out tomorrow will reveal whether the British economy has sustained its downward slide by shrinking between April and June