UK Economy Shrank by More Than Previously Thought in 3rd Quarter

[Epoch-Times-Bot]

UK Economy Shrank by More Than Previously Thought in 3rd Quarter

The UK economy contracted by more than previously thought between July and September and growth has been weaker than estimated throughout much of the past year, official data has revealed.
According to new figures released by the Office for National Statistics (ONS) on Dec. 22, the UK's GDP fell by 0.3 percent in the third quarter of 2022, more than the 0.2 percent decline initially estimated.
The ONS also said that the economy grew less than first estimated throughout the first half of the year.
New figures show the UK economy grew by 0.6 percent in the first quarter and 0.1 percent in the second quarter, less than earlier estimates which put growth at 0.7 percent and 0.2 percent in those quarters respectively....

Source: UK Economy Shrank by More Than Previously Thought in 3rd Quarter

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