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Monday, January 28, 2013

U.K. economy returns to contraction.

U.K. preliminary Q4 GDP fell a greater-than-expected 0.3% on quarter versus +0.9% in Q3. The economy is now 3.3% smaller than at its peak in Q1 2008 and has only recovered about half the output lost during the financial crisis. "Britain is now half way to a triple dip-recession after this disappointingly weak performance.

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