“The British economy slipped back into reverse in the final quarter of 2012, raising the prospect of a third recession since the financial crisis and increasing pressure on the government to ease up on its austerity drive.
Gross domestic product for the U.K. fell by 0.3% in the fourth quarter, a weaker performance than many economists were expecting. The economy emerged from recession in the third quarter with growth of 0.9%, but one-off factors such as the London Olympics were largely responsible for the economic boost.”
Source:U.K. risks new recession as Q4 GDP shrinks – Jan. 25, 2013
