Britain has dodged a double-dip recession but the crisis in the eurozone is deepening with unemployment at a record high, according to the latest figures.The UK economy grew by 0.3 per cent in the first three months of the year, having shrunk by the same amount at the end of 2011, the British Chambers of Commerce said.
The return to growth – which means Britain has avoided a new recession, defined as two consecutive quarters of decline – came as factory output rose at its fastest pace for ten months in March.
The BCC’s quarterly economic survey, published today, predicts growth of just 0.6 per cent in Britain this year – compared to the 0.8 per cent expected by the Treasury.
It warned that high oil and food prices are hitting family budgets and added that ‘the unresolved problems in the eurozone may trigger new upheavals later this year’. Read More
