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British economy avoids triple-dip recession

  • The British economy has avoided falling back into a recession after posting faster-than-expected growth in the first quarter of the year.

    According to the Office for National Statistics released on Thursday, the economy grew 0.3 percent in the first three months of 2013.

    The rise in GDP means the UK economy has managed to avoid two consecutive quarters of contraction, which is the definition of a recession.