U.K’s economy contracted in first quarter of 2012

Wednesday, 25 April 2012 03:50

The Gross Domestic Product of U.K. recorded a decline in first quarter of 2012. As Office for National Statistics reported today GDP decreased by 0.2%. The fall follows 0.3% decline in last three months of 2011.
Analysts forecasted 0.1% economy gain in March.
On yearly basics British economy remained unchanged, comparing with first quarter of 2011.
U.S. dollar stood stronger against British pound and was traded at 1.6094 at the time of data release.