UK's economy shrunk more than initially estimated

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Source: Bloomberg
Bank of England revised UK's GDP growth in the first three months of 2012 to -0.3% instead of initially estimated -0.2%. Adjustment was made due to revised results in UK's building sector. Initially estimated 3% decline turned out to be 4.8% decrease in construction sector. In comparison to the same period last year UK's economy shrank 0.1%. This is the first decrease since the end of 2009. Service sector, the largest sector in UK's economy, increased by 0.1%, but production output decreased by 0.4%. 
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Thu, 24 May 2012 13:38:49 GMT

European Stocks Advance

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Thu, 24 May 2012 11:13:47 GMT

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