GDP Decline Revised To 0.4%

GDP decline in the UK between Q1 and Q2 2012 was revised from 0.5% to 0.4% in the Quarterly National Accounts statistics bulletin from the ONS. The production industries fell by 0.7%, previously estimated at 0.9%, manufacturing output was estimated at 0.9% and was revised up to 0.8%. The service industries decline of 0.1% was unrevised.Construction was revised up from 3.9% to 3%. Household consumption fell by 0.2% revised from 0.4%. Compensation of employees increased by 0.2% revised down from 1.2%.