Blow For Osborne As UK Growth Revised Down

The Office for National Statistics (ONS) now believes gross domestic product (GDP) expanded by just 0.4% in the the third quarter, down from a previous estimate of 0.5%. It is a fresh blow to Chancellor George Osborne, a day after it was revealed that borrowing - excluding the effect of bank bailouts - rose to £14.2bn in November, £1.3bn up on the same month last year. The figures add to the likelihood that a rise in UK interest rates from the historic low of 0.5% still looks some wa