Economy U.K sinks deeper into recession Add to ... Reuters Video Published Thursday, May. 24 2012, 10:23 AM EDT Last updated Thursday, May. 24 2012, 10:24 AM EDT The U.K. is already in a double dip recession - but it was deeper in the first quarter of the year than was first thought. The U.K. is already in a double dip recession - but it was deeper in the first quarter of the year than was first thought. Watch More Video: Germany exports Christmas market cheer UAE exits Eurofighter Typhoon talks Zimbabwe tempts miners with ownership offer Thailand's contracting economy in the spotlight Target's holiday hijacked by hack To taper or not to taper? A tale of 2 central banks TransCanada's Girling defends Keystone XL Which vehicles make the grade for the U.S. insurance industry's highest safety award? Mark Zuckerberg unloads $2.3-billion worth of Facebook shares Russia and Ukraine defend pact EU applauds banking deal - but is it enough? Ukraine's Yanukovich says Russia bailout money not aimed against Europe Darden to spin off or sell Red Lobster Getting your portfolio into shape Airbus wins record AirAsia X deal Protests block traffic around EU summit venue Saab wins deal to sell 36 fighter jets to Brazil Europe stocks rally on Fed What does Canada Goose's CEO do when he's not at work? Morgan Stanley's Jonathan Garner: What Fed tapering means for markets Comments AA More Related to this Story Economy Video: U.K. bank boss warns of continental 'storm' euro zone Video: IMF recommends U.K. rate cut Europe Video: U.K. to euro zone 'make up or break up'