UK economy shrinks amid fears of longest recession since records began
The UK economy has contracted in the last quarter, according to official figures, marking the first stage of a long recession expected in the coming year.
A country will not be not officially in recession until the economy contracts for two quarters in a row, but the Bank of England predicts that Britain will be part of it by the end of the year.
Gross Domestic Product (GDP) fell 0.2% between July and September, compared to growth of 0.2% over the past three months.
The UK economy has contracted in the last quarter, according to official figures, marking the first stage of a long recession expected in the coming year.
A country will not be not officially in recession until the economy contracts for two quarters in a row, but the Bank of England predicts that Britain will be part of it by the end of the year.
Gross Domestic Product (GDP) fell 0.2% between July and September, compared to growth of 0.2% over the past three months.
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