Commenting on the revised GDP figures for the first quarter of 2009, published today by the ONS, Chief Economist at the British Chambers of Commerce (BCC), David Kern, said:

“A downward revision was expected because of very sharp falls in construction, but the actual figure is worse than anticipated.

“The figures are consistent with the view that the worst of the recession is behind us, however, there is no room for complacency. The economy is still facing serious pressures and it is important to persevere with aggressive quantitative easing. At the same time, the government must urgently present a credible medium-term plan for restoring stability to our public finances.”