The First Minister of Wales Carwyn Jones said:
“We warned the UK Government their spending cuts were too deep, too fast. We warned these cuts would lead to a double dip recession. Today, these figures prove we were right.
"The other figures released today for Gross Domestic Household Income - the amount of money people have to spend or save in 2010 was improving with Wales having the joint largest increase in the UK on a per head basis over the year. The UK Government's cuts - plus high inflation and weak growth in the Eurozone - make these very difficult times for businesses and people in Wales.
“The UK Government now need to change course and follow our lead by pursuing an economic policy which promotes sustainable economic growth, creates jobs and ensures people have the skills they need to fulfil their potential.”