The pound stayed higher against the dollar and the euro after data confirmed the U.K. economy shrank in the fourth quarter of last year. Sterling was 0.3 percent stronger at $1.5791 at 9:37 a.m. London time and advanced 0.2 percent to 84.80 pence per euro. Gross domestic product dropped 0.2 percent from the third quarter, the same as previously estimated, the Office for National Statistics said today. Economist predicted no revision, according to the median of 36 forecasts in a Bloomberg survey. Business investment fell 5.6 percent, the most since the first quarter of 2011. To contact the reporter on this story: Emma Charlton in London at echarlton1@bloomberg.net To contact the editor responsible for this story: Daniel Tilles at dtilles@bloomberg.net

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