The ONS yesterday released the third estimate of GDP figures for the first quarter of 2013 where growth was revised down from 0.6% to 0.3%. The revisions to recent historical data also erased the "double-dip" recession that was thought to have occurred in in the first quarter of 2012. Growth in 2012 Q1 was revised up from -0.1% to 0.0%, a stagnation as opposed to contraction. The ONS report is here
The ONS also revealed revisions to its GDP figures for 2008 showing a much larger fall in national income at that time. Simply put, the crash was much worse than we thought. This also means that the UK economy is now 3.9% below its pre-crisis peak rather than 2.4% as previously reported. This has significant implications for the productivity puzzle currently affecting the UK economy. This was covered in the most recent NERI In-Brief here.