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		</div><p><a href="http://londonglossy.com/wp-content/uploads/2011/02/gdp-decline-worse-than-expected.jpg"><img class="alignnone size-full" title="The severe weather was still largely to blame for a decline in the economy in the final three months of 2010, says ONS" src="http://londonglossy.com/wp-content/uploads/2011/02/min-gdp-decline-worse-than-expected.jpg" alt="The severe weather was still largely to blame for a decline in the economy in the final three months of 2010, says ONS"/></a></p>
<p>The strength of the recovery in the UK has been dealt a further blow as official figures revealed the decline in the economy in the final three months of 2010 was worse than originally feared.</p>
<p>Gross domestic product declined by 0.6% between October and December, the Office for National Statistics (ONS) said, revised downward from an original estimate of a decline of 0.5%. It is the largest GDP fall in more than two years, since the second quarter in 2009.</p>
<p>The severe weather in December was still largely to blame for the plunge in the fourth quarter, the ONS said, which ended a year of growth in the UK.</p>
<p>But the revised data, which includes details of the expenditure side of the economy for the first time, showed household spending declined 0.1%, the first drop since the second quarter of 2009.</p>
<p>The figures were worse than economists expected and will raise further concerns over the strength of the economy and its ability to withstand the coalition Government&#8217;s deficit-busting austerity measures.</p>
<p>The worse-than-feared contraction in GDP will seriously damage prospects for the economy over the next year, as Chancellor George Osborne rolls out his £81 billion package of spending cuts &#8211; which include hundreds of thousands of public sector job losses.</p>
<p>The fall in GDP output is likely to shake confidence in the ability of the private sector to pick up the expected slack in the economy and hold off a double-dip recession.</p>
<p>But the Treasury remained defiant following the figures, with a spokesman for the department saying: &#8220;The Chancellor said that the fourth quarter growth figures were disappointing and today&#8217;s revision doesn&#8217;t change that fact.</p>
<p>&#8220;It also doesn&#8217;t change the need to deal with the nation&#8217;s credit card &#8211; the country is borrowing more this year than is spent on the entire NHS.&#8221;</p>
<p>A spokesman for the ONS said without the weather, the revised GDP output in the fourth quarter was still likely to have shown a decline of 0.1%.</p>
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