UK economy performs worse than expected this quarter
Posted by Gina Dyer in Financial reporting on Fri, 24/07/2009 - 09:46
- GDP figures are lower than analysts initially forecasted.
- Despite this, decline is slower than last quarter.
Figures released by the Office for National Statistics (ONS) today revealed that the economy did not perform as well expected in the three months to June.
GDP fell by 0.8%, a much sharper decline than the 0.3% predicted by analysts.
Total production output declined by 0.7% from the first quarter, while services output fell by 0.6%. Within that sector, business services and finance contributed most to the decline, with a 0.7% fall.
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