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UK Not Currently in Recession but Economy Continues to Slow: Official Data

Started by Epoch-Times-Bot, Sep 30, 2022, 06:45 AM

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Epoch-Times-Bot

UK Not Currently in Recession but Economy Continues to Slow: Official Data

The UK is not currently in recession despite earlier predictions to the contrary, but the economy has continued to slow, according to newly released official data.
The Office for National Statistics (ONS) said on Sept. 30 that the UK's GDP grew by 0.2 percent over the three months to June, after revising a previously estimated decline.
The statistics body had previously predicted a 0.1 percent fall in GDP for the quarter.
ONS Chief Economist Grant Fitzner said: "These improved figures show the economy grew in the second quarter, revised up from a small fall.
"They also show that, while household savings fell back in the most recent quarter, households saved more than we previously estimated during and after the pandemic."...

Source: UK Not Currently in Recession but Economy Continues to Slow: Official Data


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