Friday 25 January 2013

UK GDP

The UK economy shrank by 0.3% in the last three months of 2012, further fuelling fears that the economy could re-enter recession.


The economy had grown by 0.9% in the previous quarter, boosted by the London 2012 Olympic Games.

For the whole year, growth was flat.

The ONS said that the "bumpy economy" was on a "sluggish trend".

Manufacturing fell by 1.5% in the fourth quarter, the services sector was flat, but construction output rose by 0.3%.

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