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Construction downturn pushes economy into double dip recession

Official government figures today reveal that a sharp drop of 3% in construction sector output has forced the UK overall economy to plunge back into recession.

Construction output decreased by 0.5% over the rolling 12 months to the first quarter of 2012 and fell 0.2% in the last quarter of 2011.

The 0.2% fall in GDP in the first quarter of the year pushes the UK into a double dip recession coming as it does after a 0.3% fall in GDP in the last quarter of 2011. A recession is defined as two consecutive quarters of contraction.

 

 

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