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UK in First Double Dip Recession Since 1970's

Wednesday, 25 Apr 2012 | 4:30 AM ET

Jeremy Stretch, head of currency strategy at CIBC, told CNBC, "We have to treat this number with relative caution as it is the first estimate and it is based on relatively incomplete information and we have to be mindful of the issues relating to construction, I wouldn't be surprised if these numbers are revised up."