The UK economy contracted by less than expected between April and June, according to the Office for National Statistics (ONS).
In its latest estimate, the ONS says UK GDP fell by 0.6% in the second quarter of 2009, up from its previous estimate of 0.7%. Year-on-year the rate of economic decline is 5.5%, and economists say the UK economy remains fragile. The news suggests Britain may recover from recession soon, but it lags behind other countries, such as Germany and Japan, which have already left recession.
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