Recession deepens as British economy shrinks for third straight quarter

The Britsh economy has shrunk for the third successive quarter, prolonging Britain’s recession and threatening to derail chances of recovery this year, official figures are likely to show. The Office for National Statistics is expected to say gross domestic product shrank by at least 0.2pc between April and June as the Jubilee holiday, weak domestic demand and the eurozone crisis dragged the economy down. It would mark the third successive quarter of contraction, leaving Britain in its first double dip recession since 1975...Telegraph