The UK economy contracted by 0.2% in the final quarter of 2011, data from the Office for National Statistics reveals.

The preliminary gross domestic product estimate for Q4 2011 shows that production output decreased by 1.2% in Q4, compared to an increase of 0.2% in Q3.

Construction sector output fell by 0.5% in Q4 2011, compared with an increase of 0.3% in the previous quarter.

Output of the service industries was unchanged in Q4 2011, following a rise of 0.7% in the previous quarter.

Source // Mortgage Strategy