GDP Down 0.7% On The Quarter

GDP in the UK fell by 0.7% in Q2 2012 compared with Q1 2012 according to preliminary estimates from the ONS. All of the four main sectors of the economy decreased over the period. The production industries decreased by 1.3%, the construction sector by 5.2% and the services sector by 0.1% in Q2 compared with Q1 2012. Agriculture contributed a decrease of 2.6%.