▲Photos by Agence France-Presse
European press
La Jornada newspaper
Sunday, December 24, 2023 p. 13
Britain's GDP contracted by 0.1 per cent in the third quarter compared with the previous period as Europe's second-largest economy stagnated, leaving the country on the brink of a technical recession, revised data from the Office for National Statistics (ONS) showed.
A lower growth forecast by the UK Statistics Office confirms a much more negative development of economic activity than initially calculated, with UK GDP reportedly stagnating in the third quarter and growing by 0.2 percent between April and June.
The economic contraction in the third quarter reflects a decline in the services sector by 0.2%, which was offset by a growth 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 a step away from the 1.2% expansion in the US. In the photo, shoppers stroll through the shops on Regent Street.
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