UK growth figures to be revised

The move suggests the recession might not be as bad as was originally feared, the Telegraph reports. The Office for National Statistics is predicted to revise up its initial estimate of second quarrier GDP to -0.5%, according to a survey of Bloomberg economists. The paper reports July's estimate, was was based on 40% of the data, showed the UK economy contracted by 0.7% in three months to the end of June, as construction output sank by 5.2% and the UK's services sector contracted by 0.1%. The services sector accounts for 75% of GDP. However, the ONS said this month that the contr...