New estimate confirms UK GDP shrank in Q4

The figure was confirmed by the Office for National Statistics (ONS) and is likely to heighten fears of a double-dip recession. When the estimate was first published last month, it was worse than some economists had predicted. The ONS also said output of production industries fell more than previously estimated, by 1.4%, instead of 1.2%, while manufacturing also declined 0.9%, more than the 0.8% than previously estimated. Last month, the ONS said the public sector strike seen on 30 November likely "had some impact" on the Q4 figure but said it was not possible to measure the effect...