AM Online

Economy drop revised

The UK economy shrank by 0.3% in the first three months of the year, more than previously thought.

Initial the Office for National Statistics had estimated a contraction of 0.2%.

However a larger than expected fall in the UK's construction industry has led to the downward revision.

The economy has fluctuated between quarters of growth and contraction in the last 18 months.

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  • Irishboy4 - 24/05/2012 12:36

    I think we have another 18 months before we are out of the woods.