The UK economy has grown more slowly in the past year than previously thought, official figures indicate.
Revised figures show gross domestic product (GDP) in the third quarter of this year was 2.6% higher than in the same period last year, down from an earlier estimate of 3%.
The Office for National Statistics confirmed that the UK's GDP grew by 0.7% in the third quarter of the year.
The economy is now only 2.9% higher than the previous pre-recession peak.
Earlier figures published by the Office for National Statistics (ONS) had suggested that the economy was in fact 3.4% up on that peak.
The downward revision in the annual GDP growth rate was due to lower government and business investment than first thought, and higher imports.
'Mixed' signsDavid Kern, chief economist at the British Chambers of Commerce (BCC) said: "The stark revision in annual growth confirms that the pace of recovery is slowing.
"Although the economy continues to grow, the recovery is not yet secure and further efforts are needed to boost business investment and to help businesses export to foreign markets."
Howard Archer, at IHS Global Insight, said: "The latest economic data and surveys are somewhat mixed amid signs that increased global economic uncertainty and weakness in the eurozone is having some dampening impact on business confidence and investment.
"This may well be reinforced over the coming months by heightened political uncertainty ahead of the May 2015 general election.
"However, retail sales have been very strong, which bodes well for consumer spending in the fourth quarter," he added.
Other statistics published by the ONS show that:
- The UK's current account deficit - which measures the difference between the country's exports and imports of goods and services - rose in the third quarter of the year to £27bn. That was a record 6% of GDP.
- In the third quarter of the year, household spending (after the effect of inflation was stripped out) grew by 0.9% or £2.5bn. The main factor was a 2.9% rise in sending on transport compared with the second quarter.
Martin Beck, at the Ernst & Young Item Club, suggested that the economy could grow faster next year than this.
"The plunge in oil prices promises to provide the economy with renewed momentum, by improving household purchasing power and boosting global growth," he said.
"The likelihood that disinflationary pressures will keep interest rates unchanged through 2015 should provide another spur to growth," he added.
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