Economy plummeted 6.4% during recession

THE UK economy’s nosedive during the recession was even steeper than first feared, official figures showed today.

Output slumped 6.4% from its peak in the first three months of 2008 - bigger than the 6.2% slide previously estimated, revised data from the Office for National Statistics (ONS) showed.

The economy began its pull-out from the record slump in the final quarter of 2009 and grew by 0.3% in the opening three months of 2010 - in line with earlier estimates.