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Triple-dip fears as GDP falls

By Western Morning News  |  Posted: January 25, 2013

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Britain's recovery hopes are poised to receive another blow today, with official estimates set to reveal a fresh contraction in the UK economy.

Experts believe gross domestic product will have fallen by 0.1% in the final quarter of 2012, putting the country on course for an unprecedented triple-dip recession.

The economy would have to contract this quarter as well for it to be back in recession, but hopes of a rebound are fading after a snow-hit start to 2013, which some estimate cost Britain more than £500 million a day in lost output.

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