Even in the UK, which exists outside of the Eurozone there has been consistent speculation that the economy is heading toward a triple dip recession although recent research from the OECD is a little more upbeat on the UK than it is for the Eurozone.
The economy grew in the third quarter of last year, boosted by the impact of the Olympics, but shrunk again by 0.3% in the last three months of 2012 and would enter a triple dip recession if it contracted in the first quarter of 2013.
One of the reasons the preliminary GDP estimates, and any later revisions, attract so much attention is the urge to define the economy as in or out of recession: especially when the media is speculating about the possibility of an unprecedented so-called triple-dip recession.
Last month, the CBI said that the UK would avoid falling into a so-called triple-dip recession.
"A so-called triple-dip recession is still hanging in the balance, " said Martin Beck at Capital Economics.
BBC: UK service sector sees 'solid' growth, PMI survey shows
Continuing weak economic growth has raised concerns of a triple-dip recession early this year, extending a recessionary period that began in 2008.
The recent growth in the economy, and the avoidance of a triple-dip recession, is widely seen to have strengthened the chancellor's case for austerity.
Despite Britain remaining mired in what seems to be a triple-dip recession, downtown London is dripping with money Arab money, Russian money, Asian money, all kinds of money.
So although some may be talking about the possibility of the economy going into a triple-dip recession, that will ignore the fact that the economy has been basically flat for about two-and-a-half years.
When forecasters struggle to know if we're heading for a triple dip of recession, and the risk of falling off a fiscal cliff next month, a much more distant horizon has been scanned this week.
"The government and Bank of England will breathe sighs of relief in seeing signs of a gathering upturn in the service sector during March, which looks set to have helped the UK avoid a triple-dip recession by the narrowest of margins, " said Chris Williamson, chief economist at Markit.
BBC: UK service sector sees 'solid' growth, PMI survey shows
He criticised the focus on talk of a "double-dip" and "triple-dip" recession - defined by the economy contracting in two consecutive quarters - saying the longer-term trend was more important.
Wednesday's Budget comes amid fears the UK could enter a "triple-dip" recession.
BBC: Social care cost cap and flat-tier pension brought forward
London (Financial Times) -- Britain's economy shrank 0.3 per cent in the final quarter of last year, increasing the likelihood it would slide into a "triple-dip" recession and piling pressure on the coalition government.
So, rather than a triple dip, it would be more accurate to talk about a great recession from which the economy has never recovered.
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