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UK recession deepens with 0.7 percent fall in GDP

  • The UK recession has deepened after the output of the economy dropped by 0.7 percent between April and June.

    The contraction was bigger than expected and follows a 0.3 percent fall in the first three months of the year.

    The Office for National Statistics said the depreciation came largely on the back of a sharp slowdown in the construction sector.

    It added it was not yet sure of the impact of the poor weather and the extra June bank holiday due to the Queen’s Jubilee celebrations.

    Prime Minister David Cameron said the figures were disappointing: "They show the extent of the economic difficulties that we're grappling with, not least the situation right across the eurozone where our neighbors are also really struggling.”