UK GDP Falls At Speeds Unseen in Almost Thirty Years in First Quarter

(CEP News) Frankfurt - UK GDP growth surprised to the downside in the first quarter of 2009, suggesting that the current recession will be even deeper than initially expected. On an annualized basis, overall economic activity slid 4.1% in the first quarter, overshadowing both the 3.8% fall expected and Q4's 2.0% decrease.