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Upward revision for Q4 economic growth

Upward revision for Q4 economic growth
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The expansion of the UK economy during the final quarter of last year has been revised upwards by 0.2 percentage points.

As a result the figure has been raised to 0.3 per cent, up from the 0.1 per cent that was made in an initial forecast earlier this year.

Economics editor for the BBC Stephanie Flanders said the move will be a "vindication" for some analysts in the City.

A number of experts "thought the economy in the last months of 2009 was stronger than the official statistics implied", she told the news source.

According to the Office for National Statistics, the increase has been made due to growth in the production and services industries, something that could boost shares in some firms on the stock market.

However, the climb may not be an indication that further growth is to come, as chief economic adviser at the CBI Ian McCafferty said that the even though gains were made at the end of last year, figures for the first quarter of 2010 could be weak.

Posted by Clive ArneilADNFCR-1681-ID-19640512-ADNFCR