Britains economic drop revised up, but recession real

Britain’s economic drop revised up, but recession real

By RAPHAEL SATTER The Associated Press
Published Aug 24, 2012 11:59AM MDT
London • Britain’s economy shrank by 0.5 percent between April and June — slightly less than previously feared — although the revised official figures published Friday still show the country is stuck in recession. The Office for National Statistics said the revision from a 0.7 percent drop was in part due to a milder-than-forecast drop in manufacturing and construction output. Those two sectors nevertheless remain the weak points of the economy. The one-off jubilee holiday to mark Queen Elizabet...
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