Neville Prior 25 January 2012 10:05:03
Not a huge surprise to most, but the UK economy shrank by 0.2% in the last three months of 2011. It marks a sharp drop in economic activity from the third quarter of 2011, when gross domestic product (gdp) expanded by 0.6%. The figures, from
the Office for National Statistics (ONS), are a preliminary estimate, which could be revised either up or down by 0.2%. The ONS figures also show that the economy grew by 0.9% during 2011. The gain for the year is in line with official targets.