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U.K. Unexpectedly Contracts in the First Quarter of 2012



25 April 2012 @ 04:34 am EDT

The United Kingdom released the gross domestic product figures for the first quarter of 2012, where the advanced reading showed that the royal economy contracted unexpectedly by 0.2% from the previous contraction of 0.3%, below estimates of 0.1% expansion.

Over annual basis, the United Kingdom stoodstill in the first quarter from the previous expansion of 0.5% seen in the same period a year ago, below expectations of 0.3%.

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