Wed, 25 Apr 2012 10:34:29 GMT
UK faced a recession in the first quarter
The UK economy unexpectedly contracted during the 1st quarter of 2012 as manufacturing output and construction activity declined. The British Gross Domestic Product fell 0.2% in the first quarter, following a 0.3% drop in the fourth quarter of 2011, Office for National Statistics said on Wednesday. GDP remained unchanged from the similar period year earlier. Economists predicted the economy to grow