The fastest economic drop since 1958
Updated on 30 June 2009
Economic output is shrinking at an even faster rate than previously calculated, according to official figures.
Output slumped by 2.4 per cent in the first quarter of this year and that is the biggest quarterly drop recorded in more than half a century.
The dire state of construction, and bigger falls in the service sector explain the worsening situation and in turn falling output could also further undermine the public finances.
