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UK economy shrank by more revised GDP figures show
Friday, 25 February 2011
The UK economy shrank by more than previously thought during the last three months of 2010, revised figures show.
Gross domestic product (GDP) slipped by 0.6 percent in the period, according to fresh data from the British Statistic office the Office for National Statistics (ONS).
Analysts hold that the recovery really did stall in the final three months of 2010, and it wasn't only the weather that would be blamed.  The most important conclusion to be drawn from today's second round of growth GDP estimates for the fourth quarter show that as critics had held the introduction of a VAT rise and the government's plans to dramatically cut public spending while the recovery remains fragile could be a generalised summary.

The head of the ONS however, conclude that the revision was not a very big one as such it is not a very big deal.
There are however indications that the UK economy might be improving in the subsequent quarters.
By Scancomark.se Team

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