UK double-dip recession revised away

The UK economy did not experience a double-dip recession at the beginning of 2012, official figures have shown.

Updating its historical data, the Office for National Statistics (ONS) said growth was flat in the first quarter of 2012, revised from an earlier estimate of a 0.1% contraction.

This means the economy did not contract for two quarters in a row - the definition of a recession.

But the ONS said the recession in 2008 was deeper than previously estimated.

Hugh Pym reports.