U.K. GDP Shrinks in Fourth Quarter as Firms Cut Investmen
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The U.K. economy shrank in the fourth quarter as companies scaled back investment, underscoring the risks to a recovery that Bank of England Governor Mervyn King says will be “slow and uncertain.”
Gross domestic product dropped 0.2 percent from the third quarter, the same as previously estimated, the Office for National Statistics said in London today. Economist predicted no revision, according to the median of 36 forecasts in a Bloomberg survey. Business investment fell 5.6 percent, the most since the first quarter of 2011.