The UK entered recession in 2008. We experienced a partial recovery in 2010 and 2011. But, by Q1 2012, the UK was officially back in recession.
Economic growth in Q3 2012 was 1.0% – helped by an Olympic ticket sales boost. But, in Q4 2012, the economy went back into negative growth. Manufacturing fell 1.5%, service sector growth was flat, and construction rose 0.3% in the final quarter
If growth is negative in first quarter 2013, the UK will be officially in a ‘triple dip recession’