UK is in third consecutive recession. Just admit it.

[link to www.express.co.uk]

Pound falls yet again prompting fears of triple-dip recession

THE pound has yet again fallen against the dollar and the euro after official figures showed British industrial production fell sharply in January.

Industrial production dropped a monthly rate of 1.2 percent from December, in contrast to expectations for a 0.2 percent rise, the Office for National Statistics said.

As a result, the pound fell sharply, as traders think it is more likely now that the Bank of England will back another monetary stimulus in the months ahead.

At one point, the pound fell to its lowest level since June 2010.

The industrial figures are the latest in a series of downbeat indicators suggesting that Britain's gross domestic product, or GDP, may shrink again in the first quarter of 2013.

If it does so, the country would be in its third recession, defined as two consecutive quarters of economic contraction, since the end of 2008.