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Britain's economy back in recession

04-26-2012 07:27 BJT

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Britain's economy has fallen back into recession for the first time since 2009 after official figures showed that it unexpectedly contracted during the first three months of the year.

The Office for National Statistics says economic output as measured by gross domestic product fell by 0.2 percent in the first three months of the year from the previous quarter. The first quarter decline was unexpected, as the consensus in the markets was that the British economy eked out growth, albeit of a modest 0.1 percent.

Women walk past offers advertised in the windows of a supermarket near Manchester,
northern England April 25, 2012.

British Prime Minister David Cameron described the figures as "very disappointing". He said the country was struggling to recover from the deepest recession in living memory, as it was accompanied by the Eurozone debt crisis, but that his government was doing all it could to restart growth and boost jobs.

Meanwhile, Germany reaffirmed its growth forecast of 0.7 percent this year despite the turmoil of the debt crisis, adding that the country’s economy would run ahead of its 16 partners in the eurozone.

A closed down pub is seen near Manchester, northern England April 25, 2012.

 

 

Editor:Zhang Rui |Source: CNTV.CN

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