No shock here. Welcome to a UK government austerity budget environment. My short perusal of some of the coverage of this 4Q result indicates that many of the surprised forecasters are resorting to the "do you believe those numbers?!" type of response. Classic denial.
Even in the face of this "double dip", I saw former UK PM Gordon Brown interviewed on CNBC this am warning that the UK still had to have a credible deficit reduction plan...will they never learn?
Hey Gordo, GDP= C + I + G + (X -I), where "G" is government spending!