Last month’s initial estimate from the ONS showed a contraction of 0.2%.
The downward revision was due to a larger contraction in construction output than previously estimated.
There are concerns the economy will shrink again in the second quarter of the year. The Governor of the Bank of England, Sir Mervyn King has warned that the Queen’s Diamond Jubilee could reduce output.
Earlier this week the International Monetary Fund called upon the Bank to consider more quantitative easing and possibly a further cut to interest rates.
