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Preliminary report on gross domestic product of Britain showed a decline by 0.20% in the first quarter of this year after a contraction of 0.30 percent in the last three months of 2011
The data show zero growth in the first quarter over the same period last year.
So the British economy going through its first recession since the dual 70s of XX century, the gross domestic product is still 4.3% below early 2008
Against this background, the pound fell by 0.28% to 1.6100 dollars and 0.41% to 1.2184 euros.
Stock indices remain in positive territory, although its reduced growth rates.
London’s FTSE 100 rose 0.30% to 5727 points. France’s CAC 40 was up 1.35% to 3212 points, while Germany’s DAX won 1.14 percent to 6666 points.