UK recession not as bad _ but only marginally
LONDON (AP) — Official figures show Britain's recession is not quite as bad as originally thought.
The Office for National Statistics says Thursday that the economy shrank by 0.4 percent in the second quarter of the year from the previous three-month period, slightly less than the 0.5 percent drop reported previously.
The revision came as the decline in manufacturing output was changed to show a 0.8 percent quarterly fall, instead of the previous 0.9 percent estimate.
Jason Conibear of Cambridge Mercantile says there is still no sign that the economy is gaining any momentum.
"It's not as bad as we first thought, but it's still abysmal," Conibear says.
Britain has been in recession for three quarters.