Recession

Britain is on track for a triple-dip recession, one of the nation's leading forecasters has signalled, as new figures on the UK's manufacturing industry dealt a blow to recovery hopes and sent sterling crashing to a fresh two-and-a-half year low.

UK GDP contracted 0.3% in the last quarter of 2012, according the second reading of the data.

The UK will avoid falling into a 'triple-dip' recession but external forces still pose a danger to the economy, according to the Confederation of British Industry (CBI).

A leading thinktank has urged the government to take drastic steps to stimulate economic growth in the UK, as another forecast a 50/50 chance of a triple-dip recession.

Business secretary Vince Cable has said the UK could see a triple-dip recession, and event a Japan-style 'lost decade' of zero growth.

The global economy remains beset with problems, from low or non-existent growth in developed Western economies, to a slowdown in China.

The Office for Budget Responsibility (OBR) has downgraded its outlook for the UK economy.

The eurozone has officially entered recession, the latest GDP data shows, as growth in core economies was offset by a surprisingly weak figure from the Netherlands.

The UK is out of recession and had its strongest quarter in two years over the three months to September, according to NIESR.

Bank of England governor Mervyn King has called the end of the recession in the UK and pointed to signs of growth returning to the economy.