23 Dec 2009

Further contraction in UK economy

11:19 am on 23 December 2009

Britain is now the only G20 country still in recession, after figures revealed the British economy shrank again in the three months to September.

The recession has now continued for six quarters.

Analysts had predicted a 0.1% decline in output, but a bigger than expected fall in the services sector dragged the economy down 0.2%.

The ABC reports the British economy has contracted by 6% since last year, the biggest fall since records began in 1955.