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Economic growth revised to 0.3%
The UK economy's growth in the first quarter of the year has been revised upwards to 0.3%, according to the Office for National Statistics (ONS).
The ONS had originally estimated that the economy grew by 0.2% in the first three months of the year but output was boosted after a strong rebound in industrial production and business services.
Year-on-year output was down 0.2%, although this was also revised up from the original estimate of a 0.3% fall.
Although the quarterly figure has been revised up, it is still lower than the 0.4% growth seen in the fourth quarter of 2009 and the economic recovery is still tentative.
Post Date: May 25th, 2010
The ONS had originally estimated that the economy grew by 0.2% in the first three months of the year but output was boosted after a strong rebound in industrial production and business services.
Year-on-year output was down 0.2%, although this was also revised up from the original estimate of a 0.3% fall.
Although the quarterly figure has been revised up, it is still lower than the 0.4% growth seen in the fourth quarter of 2009 and the economic recovery is still tentative.
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Post Date: May 25th, 2010
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