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Business Bites: What's behind the UK's poor GDP figures?

25 July 2012 Last updated at 16:25 BST

The UK is in its deepest double-dip recession for more than half a century according to figures from the Office for National Statistics.

Gross Domestic Product, which is the total sum of what an economy produces, manufactures and sells, shrank by 0.7% in the second quarter.

The contraction was more extensive than expected and follows a 0.3% drop in the first three months of the year.

But what is to blame for these poor figures?

The BBC's Aaron Heslehurst discusses one the key financial stories of the day.