Economy shrinks more than expected

Rotherham shops shut
Rotherham shops shut

John Giles/PA Wire/Press Association Images

The UK's economy shrank by more than previously thought in the final quarter of 2011, official figures reveal.

Gross domestic product (GDP) - a broad measure for the total economy - declined by 0.3%, the Office for National Statistics (ONS) said, downwardly revised from previous estimates of 0.2%.