Recession figures

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Britain’s longest double-dip recession for more than 50 years was due to be confirmed in official figures today.

Gross domestic product – a broad measure for the total economy – is forecast to have shrunk by 0.2 per cent between April and June in its third quarter in a row of contraction.

That would mark the longest double-dip recession since records began in 1955 and is believed to be the worst since the Second World War. The last double-dip recession was in the 1970s, when the economy was hamstrung amid soaring oil prices and a miners’ strike, but that only lasted two quarters.