In the first quarter of 2012, the Great Britain's GDP falls by 0,2%. The figure follows the -0,3% recorded in the last quarter of 2011. With two quarters in a row recording a decline in GDP, the country slides back into recession. The figure (first reading released by the National Statistics Office) took analysts by surprise, who had expected growth of 0,1%. On an annual basis, however, there is no change.
The pound fell, with the euro appreciating by 0,42%. The return to recession gives strength to the accusations of the Chancellor of the Exchequer George Osborne, for which the austerity measures put in place by David Cameron's government are stifling the economy.
