Issue 1
Economy shrank less than thought
The UK economy contracted at a slower pace than originally estimated in the third quarter of the year, quarterly national accounts show.
Gross domestic product (GDP) in the third quarter of 2009 shrank by 0.2% on the previous quarter, an improvement on the previous estimate from the Office for National Statistics of a 0.3% fall.
On an annual basis, GDP was down by 5.1% on the third quarter of 2008 — no change on the earlier estimate.
Nevertheless, the UK economy now has posted six consecutive quarterly falls since the first quarter of 2008.
Manufacturing output fell by 0.2% in third quarter on the previous quarter and was down by 10.8% on the same period in 2008.