The UK economy contracted by more than first estimated in the third quarter of this year.

A comprehensive measure of economic wellbeing, gross domestic product (GDP), fell by a revised 0.3% against the 0.2% decline initially estimated from July to September, the Office for National Statistics said.

The official definition of a recession is two consecutive quarters of negative growth. It would be happen should the economy also contract in the fourth quarter of this year.

Manufacturing and construction all performed worse than originally thought.

Many believe the UK economy to already be in recession. Groups such as the Confederation of British Industry (CBI) have forecast the economy to contract 0.4% next year.

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