London - The British economy slowed down faster in the third quarter of 2008 than previously estimated, official figures showed Tuesday.
The Office for National Statistics (ONS) said the economy contracted by 0.6 per cent between July and September - higher than the previous estimate of 0.5 per cent.
The previous quarter was left unrevised, with a figure of zero growth.
The economic growth figures are closely watched because two consecutive negative figures are generally thought to indicate a recession.
The latest figures show that the slowdown has spread from the financial services sector to manufacturing, the ONS said.
The government is expected to produce its first estimate of growth between October and December early in 2009. (dpa)
US Business News
New Zealand News
- After Suspected Botulism, CFIA Warns People
- Health Care Education Necessary for the Future of Province: Analysts
- B.C. Government Grants $700,000 for Managing Facial Deformities
- Michelle Shocked delivers hate speech about homosexuality at her gig
- Guess who Justin Bieber got burned by?!! His ex-girlfriend Selena Gomez