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The UK's economy suffered a shock contraction in the last three months of 2010, figures have shown.
The economy shrank by 0.5% in the last quarter, the Office for National Statistics (ONS) said.
December's severe weather was expected to hit activity but economists had still forecast growth in the quarter of between 0.2% to 0.6%.
There was 0.7% growth in the previous three months and 1.1% in the second quarter of 2010.
http://www.bbc.co.uk/news/business-12272717
The only shock in my mind is that it's not a larger contraction.
Posted : 25/01/2011 9:57 am
Quite - hardly a shock!
At least thi may stop the usual journos scare mongering about rates going up.
Posted : 25/01/2011 10:08 am