UK economy shrinks by 0.2%

The UK economy shrank by 0.2% in the first three months of 2012, pulling the UK officially into a recession.

A recession is defined as two consecutive quarters of negative growth, and the latest figures follow a 0.3% contraction in the last quarter of 2011.

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Britain back in recession

The economy shrank for a second quarter, bringing the UK into a double-dip recession.