Britain remains in recession

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Sterling plunged against the dollar and the euro on Friday on the back of news that the British economy contracted by 0.4% in the three months to September.

The Office for National Statistics, the government's statistics bureau, confounded expectations that the third-quarter figure would bring to a close six straight quarters of negative growth.

George Buckley, the chief UK economist at Deutsche Bank, described the data as "quite a shocker."

"The range of forecasts for GDP in Q3 was from unchang

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