He said he did not believe that people backed the idea of a "treasure trove of data which you can then dip into if you need to", and said there were doubts whether it was even technically feasible.

BBC: A person using a computer

Amidst all the turmoil and double dip recessionary-esque data, Cisco Systems (CSCO) looks to emerge a potential leader.

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Some of my real estate reporter colleagues at other media outlets were quite fast to assume this data meant a housing double-dip was upon us.

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Stocks have also been boosted by economic data that have moderated fears of a double-dip recession and investor sentiment that has shifted decisively towards the bearish side of the equation.

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Although the housing market has stabilized over the last half a year, the chorus calling for a double dip in housing is growing louder as data such as this runs counter to a sustainable recovery thesis.

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Given recent data on housing, corporate earnings and the economy, fears of a double dip recession appear overblown.

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The Centre for Economics and Business Research has this: "Today's data suggest that the UK is probably in the midst of a double-dip recession and we expect the economic picture in 2012 to remain gloomy".

BBC: Recovery in rehab

Indeed, any triple dip might even be erased by the ONS revising its figures when more data comes in over the coming months.

BBC: Triple-dip recession: Does it matter?

While I do not believe, based upon the economic data currently available, that the economy is at risk of slipping into a double-dip recession, I do believe that this economic recovery may be a longer, more drawn-out recovery than many, including the Federal Reserve, initially anticipated.

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