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| Version 0 | Version 1 |
|---|---|
| Economy shrinks less than thought | Economy shrinks less than thought |
| (10 minutes later) | |
| The UK economy did not contract as much as originally estimated in the July to September period, figures show. | The UK economy did not contract as much as originally estimated in the July to September period, figures show. |
| The economy shrank by 0.2% in the third quarter. That compares with an earlier estimate of a 0.3% contraction. | The economy shrank by 0.2% in the third quarter. That compares with an earlier estimate of a 0.3% contraction. |
| However, the revision was not as big as had been expected by analysts, who had forecast a contraction of 0.1%. | However, the revision was not as big as had been expected by analysts, who had forecast a contraction of 0.1%. |
| The UK economy has been shrinking for six consecutive quarters and is lagging behind other countries, many of whom have already pulled out of recession. | The UK economy has been shrinking for six consecutive quarters and is lagging behind other countries, many of whom have already pulled out of recession. |
| Since the recession began in the March-to-May period in 2008, the economy has contracted by 6.0%. | |
| The Office for National Statistics said the upward revision to the third-quarter figures was down to an improvement in construction output. That was boosted by strong growth in public sector projects, while the decline in house building slowed. | |
| However, services and industrial production were weaker. | However, services and industrial production were weaker. |
| In his pre-Budget report, Chancellor Alistair Darling predicted the UK would exit recession in the fourth quarter of 2009. |