Oct 23: UK GDP falls by 0.4%

The UK economy shrank by 0.4 per cent in the third quarter, in a sign that the deepest recession in a generation is not yet over. The recession has now lasted for six quarters, the longest downturn since the Second World War. The size of the recession is now on a par with that of 1979-81. Chris Giles, economics editor, analyses what the unexpected continued fall in GDP tells us about the UK economy.