Official figures show that the British economy shrank less than previously estimated in the third quarter _ suggesting the grip of recession is easing, AP reported. Wednesday"s revised data from the Office for National Statistics reveals that gross domestic product contracted 0.3 percent in the July to September quarter. That improves on the the 0.4 percent fall that surprised forecasters when the first official estimate was made public a month ago. Britain"s recovery from its worst economic downturn since official records began in 1955 is lagging behind the United States and eurozone, which have already recorded renewed growth. The Bank of England forecasts that Britain will exit recession in the fourth quarter, before expanding 2.2 percent next year and 4.1 percent in 2011.
