British economy shrinks 0.5% in fourth quarter: data

29th March 2011, Comments 0 comments

Britain's economy shrank 0.5 percent in the fourth quarter of 2010 compared with the third quarter, a slight improvement on the previous official estimate, data revealed on Tuesday.

The Office for National Statistics last month estimated that gross domestic product (GDP) had contracted by 0.6 percent in the fourth quarter, the final three months of last year.

"GDP growth contracted by 0.5 percent in the latest quarter, revised from a fall of 0.6 percent previously published," the ONS said in a statement.

It added that between October and December, GDP was 1.5 percent higher compared with the fourth quarter of 2009.

© 2011 AFP

0 Comments To This Article