- The chained volume measure of GDP decreased by 0.2 per cent in 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
- Construction sector output decreased by 3.0 per cent in Q1 2012, following a decrease of 0.2 per cent in the previous quarter
- Output of the service industries increased by 0.1 per cent in Q1 2012, following a decrease of 0.1 per cent in the previous quarter
- GDP in volume terms is flat in Q1 2012, when compared with Q1 2011
Commenting on the news that the UK economy is back in recession, TUC General Secretary Brendan Barber said:
‘This is worse than expected. There has been no growth over the last year, and the economy is 0.5 per cent smaller than six months ago.”
The UK economy has returned to recession, after shrinking by 0.2% in the first three months of 2012.