Shock as economy shrinks by 0.7%

Britain has slumped to its longest double-dip recession in more than 50 years after shock figures revealed the economy shrank by a worse-than-expected 0.7% between April and June.

Gross domestic product (GDP) - a broad measure for the economy - fell for the third quarter in a row and by much more than the 0.2% expected by forecasters, according to the Office for National Statistics (ONS).