The British economy slides back into recession after official data unexpectedly showed a fall in output in the first three months of 2012. The Office for National Statistics reported a gross domestic product fell of 0.2 per cent in the first quarter of 2012. A modest growth in the early 2012 was expected by most economists.
The seasonally adjusted index of construction output decreased by 3.0 per cent in Q1 2012,
following a decrease of 0.2 per cent in the previous quarter. Construction output decreased by 0.5 per cent between Q1 2011 and Q1 2012.
Output of the production industries decreased by 0.4 per cent in Q1 2012, following a decrease of 1.3 per cent in the previous quarter.