Economy U.K sinks deeper into recession Add to ... Reuters Video Published Thursday, May 24, 2012 10:23AM EDT Last updated Thursday, May 24, 2012 10:24AM 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: Retirement at age 75 – seriously? Bombardier job cuts, by the numbers Volkswagen launches new China-only model Catwalks and Katy Perry: Alibaba's Singles' Day BAT-Reynolds deal: 'Big Tobacco' getting smaller? Market Call Tonight: Top Picks from HollisWealth's Jason Del Vicario Will U.K.'s Philip Green lose his knighthood over BHS collapse? Berlin's bold bid to lure London start-ups Autopilot coming to all Tesla models Market Call Tonight: Top Picks from Stephenson & Co.'s John Stephenson ECB's Draghi stays quiet about future policy The ECB hasn't made any impact with recent moves: Milner California launches Wells Fargo criminal probe Nestle cuts sales outlook as growth disappoints Stocks nudge higher after U.S. presidential debate U.S. visitors overtake U.K. as Kenya tourism looks up Higher cyber security standards for banks Returning workers could slow U.S. rate hike Jim Pattison: A business icon's view on real estate and the economy Market Call Tonight: Top Picks from Canoe Financial's Steve DiGregorio 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'