Economy should 'rebound' in third quarter of 2012

The economy should reboundin quarter three as the bank holiday effect unwinds and any Olympics boost comes through.

But we still expect the underlying performance of the economy to remain weakand GDP may even contract again in quarter four.

– Capital Economics

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Double-dip not as deep as feared

Britain's double-dip recession is not as deep as previously feared. Revised figures show a smaller contraction in the second quarter of the year, falling 0.4%. The initial estimate was 0.7%.