UK GDP might be slowing but some sectors are heading downwards more quickly than others.
The perennial Cinderella of the UK economy is doing particularly badly. The UK manufacturing sector shrank during the second quarter of 2008. The sector is now in its second major recession this decade.
Despite the credit crunch, business services and finance grow by around 2 percent year-on-year. However, the growth rate is significantly lower than the typical 5 percent annual growth rates recorded over the last 10 or so years.