WOOHOO!!!!

Apologists said the numbers would be revised upwards, and now they've been proved fucking right.

GDP fell by 0.5% between April and June compared with the previous quarter, according to the Office for National Statistics. The figure, which was in line with economists' expectations, was revised from the 0.7% decline statisticians had estimated last month.

However, the economy has been shrinking for three consecutive quarters in the country's second recession in four years. Bleak business surveys suggest it is unlikely to improve quickly, while the Bank of England estimates growth to be at a standstill for this year. GDP is at about the same level as it was in the middle of 2010, so growth has been broadly flat over the last two years, the ONS said. Output is still more than 4% below its pre- recession peak at the start of 2008.