Second estimate puts UK GDP unchanged at -0.3% in Q4

This figure is unchanged from the first reading in January, and will give economists continued cause for concern. Initally they had expected a 0.1% contraction in growth, with many pointing to an expected reversal of the 'Olympics effect' that had helped the economy grow 0.9% in Q3. According to the figures from the Office for National Statistics (ONS), the production industries fell by 1.9%, revised down from the previously estimated 1.8% fall. Manufacturing output fell by 1.3%, revised up from the previously estimated decrease of 1.5%. Output of the service industries fell by ...