British Economy Slips Back Into Recession

GDP growth was negative for the second consecutive quarter in Britain. This is a rare double dip recession in Britain and it is not good news for the Cameron government. It has bet on austerity to boost the economy. The government has argued that austerity would boost business confidence and encourage investment. The return to recession has had a negative effect on confidence. Businesses are more responsive to consumer demand than they are to government budget figures.