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0% GDP growth measured by government

GDP growth slowed to zero over April-June, the Office for National Statistics has said.According to the government body, growth was down on January-March's figure of 0.3 per cent - heightening the chances of the UK falling into recession.The Bank of England also seems more likely to cut interest rates in a bid to stimulate the economy.A reduction from the bank's current rate of five per cent is likely to make loan repayments cheaper.In turn, this encourages more people to take out credit and keep spending, boosting demand for goods and services.However, the ongoing credit crunch is itself likely to negatively impact on this future stimulus.Speaking to the BBC Paul Dales, an analyst at Capital Economics, said: "We continue to think that the UK economy is poised for a recession and a prolonged period of weak activity as the excesses of the last decade unwind dramatically."Overall, not much cheer here."

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