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UK Falls in Recession
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The specified data of GDP increase for Great Britain showed that analysts made a mistake in their calculations. The country has dipped into recession much further than predicted.


Looking at the revised figures for the first quarter, the economy had contracted by 0.3% - not 0.2%, which brought the annual indicator to a negative value of minus 0.1%.


It is the first case when the National Statistics Agency has fixed a recession in UK, which has not recovered from the previous downturn yet.


The main factor of negative tendency was construction. Such low volumes were fixed 11 years ago last time. In addition, the consumer expenditures index is also losing pace.


A disappointing statistics supported a bearish trend of the British pound trades. The quote of pound-dollar pair has cheapened to 1 dollar 56 cents.


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