Wednesday, April 25, 2012
Britain's economy falls in its second recession since financial crisis
Britain's economy has fallen into its second recession since the financial crisis after an shock contraction at the start of 2012,the Office for National Statistics said, adding that Britain's gross domestic product fell 0.2 percent in the first quarter of 2012 on top of a 0.3 percent decline at the end of 2011.
Cameron said the figures were "very, very disappointing".He told parliament: "I don't seek to excuse them. I don't see to try to explain them away. There is no complacency at all in this government in dealing with what is a very tough situation that frankly has just got tougher."
Gilt prices rallied and sterling fell more than half a cent against the dollar after the data.
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