The UK is approaching recession

Limit appreciation The growth is confirmed by the British Statistics Office as a much more negative development than expected

recession
UK Prime Minister Rishi Sunak.

Gross Domestic Product (GDP) United kingdom It registered a 0.1% contraction in the third quarter compared to the previous three months, when Europe's second-largest economy fell into recession, according to revised data published by the Office for National Statistics (ONS), leaving the country on the brink of a technical recession.

Limit appreciation The growth by the UK Statistics Office confirms a much more negative development of economic activity than initially estimated, with estimates so far indicating that UK GDP stagnated in the third quarter and that it grew by 0.2% between April and June.

Recession in the United Kingdom

Economic contraction in Reflects the third quarter The services sector decreased by 0.2%, which offset the expansion of 0.1% in the production sector and 0.4% in the construction sector.

With GDP falling by 0.1% between July and September, the UK joins the eurozone, which also suffered a similar contraction in the third quarter, with both economies shy of a 1.2% expansion in the third quarter. United State.

As well as facing the fourth quarter in October gross domestic product The United Kingdom suffered a contraction of 0.3%, while compared to October last year, the second largest European economy grew by 0.3%.

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