British economic slowdown faster than expected in 3rd quarter

.

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)


Latest News

NHTSA opens probe into automatic braking system on 2014 GM Chevrolet Impala
Withings launches latest-generation Pulse fitness tracker --- Pulse O2
Google unveils new mobile ads which help find apps that fit users’ daily habits
Several Canadians experienced child abuse
12 per cent decrease in serious violence
Exercise plus sex burns more calories
Analysts discover mitochondria that are unable to repair itself
Microsoft's ‘Cortana’ virtual assistant for Windows Phone 8.1 OS
Twitter's new profile design is now available to all users
Kidney deaths at hospitals can be avoided
Movement makes some people feel sick
ADHD kids suffer language problems