Revised data says UK double-dip recession did not happen

 
Suzie Neuwirth

THE UK economy did not go through a double-dip recession at the start of 2012, according to revised data from the Office for National Statistics today.

New figures showed that growth was flat in the first quarter of last year, revised from an earlier estimate of a 0.1 per cent contraction.

The data also shows that the 2008 crash was more severe than previously thought. GDP is currently around four per cent below the pre-crisis peak, rather than a previous estimate of 2.5 per cent.

GDP grew 0.3 per cent in the first quarter of 2013.