LONDON (AP) ? Official data show that Britain's economy shrank by 0.7 percent in the second quarter compared to the first, a deeper than expected fall that extended the country's recession into a third quarter.
The consensus in the markets was that output would fall by a far more modest 0.2 percent in the three months ending June 30.
The Office for National Statistics said Wednesday that output from the service industries including the financial sector was down 0.1 percent, manufacturing and other production industries were down 1.3 percent and construction fell 5.2 percent.
Source: http://news.yahoo.com/uk-q2-gdp-down-0-7-pct-deeper-084636657--finance.html
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