The revision was slightly up on the ONS’ previous estimate that the economy had contracted by 0.6% in the last three months of 2010.
However, the quarterly fall is largest since Q2 2009.
The ONS left the annual rate of growth unrevised at 1.5% in its latest report.
The ONS said that growth in the final quarter of last year would have been flat if it were not for the severe weather the UK experienced in December.
Meanwhile, the ONS reported output in the service industries fell by 0.6% in Q4 2010, while household expenditure fell 0.3%. However, this was 0.2% higher than Q4 2009.
In real terms, the trade deficit increased to £11.5bn in Q4, while exports of goods and services rose 1.7%, with imports rising 3.2%.
The UK also recorded a £26.8bn difference between the value of imports and exports; the widest the trade gap has been since records began.
In addition, employee compensation at current prices rose by 0.3% in Q4, resulting in a 2.1% increase since Q4 2009.
