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UK falls back into recession
The UK slipped back into recession, led by a decline in the construction sector, official data released on Wednesday showed.
Britain’s economy contracted by 0.2 per cent in the three months through March following a 0.3 per cent decline in the last quarter of 2011. Many economists define two successive quarters of a decline in output which many economists define as a recession.
However, in recent weeks, some economists have questioned the accuracy of the official data from the Office for National Statistics, noting that industry surveys from the services, manufacturing and construction sectors show much stronger growth.
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