GDP figures: Economy shrank by 0.3% at the end of 2012, raising fears of a triple dip recession

Economy SHRANK by 0.3% at the end of 2012, raising fears of a triple-dip recessionOffice for National Statistics announces negative growth for final quarter of last yearResulsts mean there was no growth overall for the whole of 2012 Nick Clegg admits government was wrong to cut funding for big building projects, damaging jobs and growth Boris Johnson says it is time to 'junk the rhetoric of austerity'IMF chief economist says the Chancellor should use the Budget in March to 'take stock' and change course , raising fears of a triple-dip recession. The figures are a devastating blow to David Cameron and George Osborne who were last night seen dining out in the Davos ski resort hours after being told of the grim economic figures.