The Office for National Statistics says that UK gross domestic product (GDP) decreased in volume terms by 0.3 per cent in the first quarter of 2012, revised from a previously estimated decline of 0.2 per cent. Read more...

Economists are forecasting positive results for the next GDP figure with 0.1 per cent growth forecast, according to a leading think-tank.

Firms were doubtful about the accuracy of the latest figures from the Office for National Statistics stating Britain is in a recession.

Britain has entered recession again today after the Office for National Statistics revealed GDP shrank by 0.2 per cent in the first quarter of 2012.