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ONS revision to construction data could make the difference
LONDON, May 10 () -- A revision in construction industry data suggests that Britain may have escaped a double-dip economic recession.The construction industry shrank in the first quarter of 2012. But a recent revision put the contraction at 5 percent, which is less than the previous estimated contraction of 5.4 percent. That may be enough to nudge the country's gross domestic product for the quarter from minus 0.1 percent to zero, the BBC reported Friday.At zero, that means the economy did not shrink for two consecutive quarters,[url=http://www.ferragamooutletu.com/]ferragamo outlet[/url], which is the common definition of a recession.Other data, however,[url=http://www.suprashoesukvip.co.uk/]Supra Shoes Uk[/url], is also subject to revision,[url=http://www.cheapchristianloubouting.com/]cheap christian louboutin[/url], which could offset the upward revision in the construction trades. The official final estimate is due in June,[url=http://www.suprashoesukvip.co.uk/]Supra Skytop[/url], the BBC said. |
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