UK avoids triple dip recession
THE UK has avoided an unprecedented triple dip recession after official figures showed output grew by 0.3% in the first quarter of the year.
This followed a 0.3% contraction in the final three months of 2012. A recession is officially defined by two consecutive quarters of negative growth.
Joe Grice, chief economist of the Office for National Statistics, said the growth had much to do with the success of the service sector, which has grown by 0.8% since the trough of 2009.
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