A review of the data by the ONS yesterday also cast doubt on whether there really was a double-dip
, noting that the declines in output in the three quarters that it covered were all modest.
Revised figures show the double-dip
recession is not as deep as feared, with a smaller contraction in the second quarter of the year.
5 per cent between April and June, marking the third consecutive quarter of declining output and the longest double-dip
recession since the 1950s.
7% between April and June, meaning the double-dip
recession is the longest since the 1950s, after the additional bank holiday for the Queen's Diamond Jubilee hit output.
The fourth Ernst & Young Turn Risks and Opportunities into Results report found that although the potential for a double-dip
recession dropped down the table globally to eighth position, in the UK it remained prominent, with respondents ranking it joint fourth, reflecting a relative slowness in emerging from the financial crisis.
Hills have cut the odds on a double-dip
recession in 2011 from 3-1 to 9-4 and quote 5-4 that interest rates will rise before August.
Nick Moon, managing director of Gfk NOP Social Research, said: "Overall, consumer confidence has been in constant decline for the last five months and a further fall would have made a double-dip
recession seem a very real prospect.
And while NBER avoids haste when pronouncing good news, analysts at Credit Suisse say that some commentators may be crying wolf, calling the persistent expectations for a double-dip
recession "over pessimistic," Bloomberg reported Wednesday.
The bank said that expectations of a double-dip
recession are overly pessimistic.
Between Europe's debt troubles, China's modest cool-down and the United States' slow-healing job market, double-dip
recession talk is spreading around the globe.
new homes sales may officially mark the beginning of a double-dip
in housing activity.
corporate income tax, there is no double-dip
of the DCL.
NEW YORK -- Intensifying fears of a double-dip
recession are bleeding to U.
A "very small group" of people would lose their ability to double-dip
if the bill becomes law, according to a fiscal analysis of the legislation.
Let's Party On: After witnessing a double-dip
, 54 percent of young partygoers will step away from the dip bowl, while 22 percent don't mind joining in on the double-dipping action.