Tuesday, 25 January 2011

Economy shrinks 0.5%, latest figures reveal

GDP slumps for first time in more than a year
UK gross domestic product (GDP) decreased by 0.5% in the fourth quarter of 2010, fuelling fears of a double dip recession.
The Office for National Statistics (ONS) estimates for October to December 2010 compared with an increase of 0.7% in the previous quarter.