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Double-dip Recession is Longest since World War 2

Britain is continuing to suffer the longest period of recession experienced since World War 2, figures released this week are expected to reveal.

It is thought that a third quarter of decline will be published by government officials, making the economic downturn longer lasting than the second wave of recession Britain experienced throughout the 1970’s.

There are various factors that are said to have contributed to a 0.4pc downfall in the Gross Domestic Product (GDP) between April and June, including the extra bank holiday taken for the Jubilee as well as the wettest spring since records began. This means extra pressure will be placed on Chancellor, George Osbourne, who has already faced questions over his handling of the economy, and will now be further interrogated about issues involving a fall in producing, spending, investing and exports.

Britain was officially labelled in a recession in 2008, after two quarters of decline in the national economy, but turned the corner in the last quarter of 2009. However Britain was once again in economic decline in October 2011, making it a double-dip recession. The only previous double-dip recession was in 1973, and was caused by a shock rise in the price of oil from the Middle East.

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