'Game over' for UK as new data points to triple dip

Fears that the UK is heading for a triple-dip recession appear to have been confirmed by worse-than-expected January manufacturing data, analysts have suggested.

UK manufacturing output fell 1.5% in January, far worse than had been expected, wiping out a 0.9% rise in December and raising fresh concerns over the health of the UK economy. The data prompted the pound to shed a further half cent against the dollar, dropping to a fresh two-and-a-half-year low of $1.4832. The UK economy contracted 0.3% in Q4 2012, pending a final estimate from the Office for National Statistics later this month, and a negative reading for Q1 2013 is now odds-on, according to analysts. Alan Clarke, economist at Scotiabank, said the release is "the penultimate nail...