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25/11/2009
Economic Recovery Still Far Off
Official data from the Office for National Statistics (ONS) has showed a 0.3% fall in gross domestic product in the three months to the end of September.
This means there is only a slight improvement on the shock 0.4% fall revealed a month ago.
The ONS revises its GDP estimates on a monthly basis as more output data comes to hand.
But the latest figure still falls well short of economists' initial forecasts for 0.2% growth in the period with the original upward revision prompted by an improvement in the key services sector, which saw a 0.1% drop instead of the 0.2% decline previously shown.
However, the manufacturing sector gained an upgrade built on the success of the car scrappage scheme.
Now, as the UK's recovery hopes falter, all now depend on a strong final quarter.
Howeber, the country is already lagging behind other developed economies as France, Germany, Japan and the US have all already enjoyed an upturn, putting pressure on the Westminster Government.
(BMcC/GK)
This means there is only a slight improvement on the shock 0.4% fall revealed a month ago.
The ONS revises its GDP estimates on a monthly basis as more output data comes to hand.
But the latest figure still falls well short of economists' initial forecasts for 0.2% growth in the period with the original upward revision prompted by an improvement in the key services sector, which saw a 0.1% drop instead of the 0.2% decline previously shown.
However, the manufacturing sector gained an upgrade built on the success of the car scrappage scheme.
Now, as the UK's recovery hopes falter, all now depend on a strong final quarter.
Howeber, the country is already lagging behind other developed economies as France, Germany, Japan and the US have all already enjoyed an upturn, putting pressure on the Westminster Government.
(BMcC/GK)
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Third annual fall recorded in migration to UK
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