UK economy slides back into recession
The UK economy has returned to recession, after shrinking by 0.2% in the first three months of 2012.
What is a recession?
A recession is defined as when there are 2 consecutive quarters where gross domestic product (GDP) falls. (This fall is
What is GDP?
Gross Domestic Product (GDP) is equal to total spending, plus the value of exports, minus the value of imports. Changes