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UK economy contracts 0.8%
The UK economy declined 0.8% between April and June, according to official figures released by the Office for National Statistics.
This is the fifth successive month that the country's GDP has fallen and takes the annual rate of decline to 5.6%, the biggest fall since records began in 1955.
Although the decline has eased from the previous quarter's 2.4% contraction, economists had predicted that the economy would only fall 0.3%.
Post Date: July 24th, 2009
This is the fifth successive month that the country's GDP has fallen and takes the annual rate of decline to 5.6%, the biggest fall since records began in 1955.
Although the decline has eased from the previous quarter's 2.4% contraction, economists had predicted that the economy would only fall 0.3%.
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Post Date: July 24th, 2009
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