UK in recession

The United Kingdom is now in recession for the first time since 1991.



Official government figures have confirmed that gross domestic product fell by 1.5 percent in the last three months of 2008 after a point 6 percent drop in the previous quarter.



Reports say it represents the biggest quarter-on-quarter decline since 1980, and a 1.8 percent fall in the similar quarter a year ago.



The worse-than-expected contraction sent the pound sterling to a 24-year low against the US dollar.