Production sector shrank by 1.8%

This is how different sectors performed in the final three months of 2012:

  • Overall - contraction by 0.3%
  • Production - fell by 1.8% (within that manufacturing fell by 1.5%)
  • Service - remained flat
  • Construction - rose by 0.3%

So no growth at all in 2012 if these figures aren't revised, which they may well be.


UK triple-dip recession looms

Chancellor George Osborne has vowed not to "run away" from Britain's economic problems amid fresh signs the UK is heading for an unprecedented triple-dip recession.