UK economy shrinks by 0.3% in the last three months of 2012
The UK economy shrank by 0.3% in the last three months of 2012, further fuelling fears that the economy could re-enter recession.
The Office for National Statistics (ONS) said the fall in output was largely due to a drop in mining and quarrying, after maintenance delays at the UK's largest North Sea oil field.
The economy had grown by 0.9% in the previous quarter, boosted by the London 2012 Olympic Games.
For the whole year, growth was flat.
Hugh Pym reports.
25 Jan 2013
- From the section Business