UK contraction worse than thought, says ONS

The UK economy shrank by more than previously thought during the last three months of 2010, revised figures suggest.

Gross domestic product (GDP) slipped by 0.6% in the period, according to fresh data from the Office for National Statistics (ONS).

Its initial estimate had suggested the economy had contracted by 0.5% - with heavy snow blamed for the slump.

Joe Grice, Chief Economist at the ONS said the construction and service sectors performed badly in the last three months of 2010