UK economy shrinks by 0.7%

The UK economy shrank by 0.7% between April and June, according to the Office for National Statistics.

It was a bigger number than experts predicted, representing Britain's longest double-dip recession for more than 50 years.

Joe Grice, chief economist at the ONS told a news conference that the figure is a reflection of the bad weather and "special events" like the Queen's Diamond Jubilee.

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