Britain economy remains in recession

LONDON -- Britain's statistics office says the domestic economy shrank 0.4 percent in the third quarter of the year - dashing hopes that the country may have exited recession.
Friday's update from the Office for National Statistics shows that gross domestic product - which measures the total amount of goods and services produced by a country - was dragged lower in the July to September quarter despite recent gains in Britain's dominant services sector.
The British economy has not recorded growth since the beginning of April 2008 - it officially entered recession at the turn of the year after two quarters of negative growth.
Economists had expected the report to be a close call between growth and contraction.