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

Madrid, December 22 (European Press) –

The UK's GDP contracted by 0.1% in the third quarter compared to the previous three months as Europe's second-largest economy stagnated, according to revised data from the Office for National Statistics (ONS), leaving the country in a precarious position. The brink of artistic stagnation.

The UK Statistics Office's downgrade of growth estimates confirms a much more negative development in economic activity than initially estimated, with estimates so far suggesting that UK GDP remained stagnant in the third quarter and that it grew by 0.2% between April. And June.

The economic contraction in the third quarter reflects a decline of 0.2% in the services sector, which offsets the expansion of 0.1% in the manufacturing sector and 0.4% in the construction sector.
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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, the UK's GDP in October suffered a contraction of 0.3%, while compared to October last year, the second-largest European economy grew by 0.3%.