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The American Empire in a Changing World



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Thursday, June 28, 2012

''Britain's recession deeper than feared''

From The Telegraph

''The figures mean the current recession - defined as two or more quarters of declining GDP in a row - is more severe than first thought and highlight the weakness in the economy, which has struggled to recover from the financial crisis.

Declines in construction and industrial output outweighed the biggest rise in government spending in almost seven years, which was driven higher by expenditure on public administration, health and defence.''

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