Britain is in its first double-dip recession since the 1970s, but the situation isn't catastrophic, according to The Economist. The U.K. economy is recovering more slowly than the U.S. one, and the rebound is weaker compared with previous downturns. "Britain's pursuit of austerity, led by George Osborne, the chancellor of the exchequer, is going fairly well," the magazine notes. "Stimulating growth is going to prove a lot harder."