UK eyes recession after third quarter GDP revised to -0.1%

The UK's GDP contracted by 0.1% 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.

The British Statistics Office's reduction in growth estimates confirms a much more negative development in economic activity than initially estimated, so far UK GDP is estimated to have stagnated in the third quarter And it grew by 0.2% between April and June.

The economic contraction in the third quarter reflects a decline in the services sector of 0.2%, which it offset It expanded by 0.1% in the production sector and 0.4% in the construction sector.

[Iberdrola invertirá 8.065 millones más en Reino Unido y destinará 13.823 millones al país hasta 2028]

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.

Likewise, facing the fourth quarter, UK GDP in October suffered a contraction of 0.3%, while Compared to October last year, Europe's second-largest economy grew by 0.3%..

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