British recession worse than thought

London: Britain’s record recession was deeper than thought, data has showed.

Falling exports together with a government policy shift towards saving money pose a challenge for future growth.

Britain’s first-quarter current account deficit with the rest of the world swelled to twice economists’ forecasts to hit its highest since the third quarter of 2007 and, in a first glimpse of second-quarter data, service sector output fell 0.3% in April.