Britain skirts triple-dip recession | Bangkok Post: news

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Britain skirts triple-dip recession

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Britain avoided falling into a third recession since the 2008 global financial crisis after its economy grew by a better-than-expected 0.3 percent in the first quarter compared with the final three months of last year, official data showed Thursday. 

Construction cranes surround buildings in central London on January 19, 2009. Britain avoided falling back into recession after its economy grew by a better-than-expected 0.3 percent in the first quarter compared with the final three months of 2012, official data showed

In a significant boost to Prime Minister David Cameron's coalition government, gross domestic product (GDP) "increased by 0.3 percent in Q1 2013 compared with Q4 2012" when the British economy had contracted 0.3 percent, the Office for National Statistics (ONS) said in a preliminary estimate.

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