UK economy contracts further from April to June

The UK economy contracted by 0.8% in the three months from April - June, according to the latest figures released by the Office for National Statistics.

Gross Domestic Product (GDP) shrank for the fifth consecutive quarter following a contraction of 1.8% for the final quarter of 2008 and a 2.4% drop in the first quarter of 2009, revised down from April's estimate of 1.9%.

The latest drop is more than double the 0.3% that many analysts and economists expected for the three-month period.

Within manufacturing output, the contraction was less harsh, with a fall of 0.3% compared to a dramatic fall of 5.5% in the first quarter.

Overall, total UK production output dipped 0.7% in the second quarter in comparison to a 5.1% fall in the first quarter.