MADRID, December 22 (EUROPA PRESS) –
Britain’s gross domestic product (GDP) contracted 0.1% in the third quarter compared with the previous three months as Europe’s second-largest economy stagnated, according to revised data released by the Office for National Statistics (ONS), leaving the country on the brink of collapse . technical recession.
The reduction in growth forecasts by the UK statistical office confirms a much more negative development in economic activity than initially expected, as UK GDP is currently expected to stagnate in the third quarter and grow by 0.2% between April. and June.
The economic contraction in the third quarter reflected a decline of 0.2% in the services sector, which offset an expansion of 0.1% in the manufacturing sector and 0.4% in the construction sector. ? With GDP falling 0.1% between July and September, the UK was in line with the eurozone, which also experienced a similar contraction in the third quarter, with both economies falling short of the 1.2% expansion in the United States.
Likewise, facing the fourth quarter, in October UK GDP contracted by 0.3%, whereas compared to October last year, the second largest economy in Europe grew by 0.3%.
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