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    UK GDP figures due amid triple-dip recession fears

    Official figures due to be released later will reveal whether the UK has slipped into a

    triple-dip recession.

    The Office for National Statistics will issue its preliminary estimates for gross domestic

    product (GDP) for the first three months of the year.

    The economy shrank in the last quarter of 2012. A second quarter of contraction would

    put the UK economy back in recession.

    But on average, economists are forecasting growth of 0.1%.

    A poll of analysts by Reuters resulted in forecasts ranging between a contraction

    of 0.2% and growth of 0.3%.

    A contraction would mean the UK has fallen into recession for the third time since

    the financial crisis struck in 2008.

    Economists say news of another recession may have a psychological impact on consumers

    and businesses, but they argue that the broader picture of the economy will remain unchanged.

    The UK has flat-lined since 2008, and small levels of growth or contraction will have little

    impact on that general trend.

    They also express caution about reading too much into the preliminary ONS figures, which

    are likely to be revised at a later date.

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