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

Apple releases new app for Apple TV --- ‘iBooks StoryTime’
Al Gore wants to work with Trump to tackle climate change
Martian show home opened at London’s Royal Observatory
Apple officially starts selling refurbished versions of previous iPhones
Google Capital re-branded as ‘CapitalG;’ Snapchat added to its list of investmen
Facebook
White House’s plans for "digital transition" between Obama administration and ne
Microsoft's first desktop computer --- ‘Surface Studio’
Professor writes ‘prank’ physics paper using iOS autocomplete
Twitter plans to shrink its workforce by about 8%
Elon Musk talks about SpaceX’s plans to test ITS’ huge fuel tank at sea
Hackers cut access to some of the world's best known websites on Friday