Revised final quarter figures offers ray of hope for Britain

THERE was a glimmer of light for the British recovery yesterday after revised figures showed the economy contracted by less than previously thought at the end of 2010.

The Office for National Statistics (ONS) said gross domestic product (GDP) fell 0.5% in the snow-hit final quarter of last year — a slight improvement on the 0.6% decline previously estimated. The figure was revised partly as a result of greater investment from businesses.

However, economists said the figures still indicated a worrying loss of momentum at the end of 2010.