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The Progressive Policy Think Tank

Double-dip just got deeper

Today's revision to the GDP figures for Q1 not only confirm that the UK economy is back in recession, they show that this recession is deeper than we previously thought. With a two quarters of negative 0.3%, it is hard to argue that the double dip is a flat lining of the economy over the last six months. This is real recession; economic decline and it wasn't part of the plan.