UK economy is on verge of technical recession

UK economy shrinks by 0.1% from July to September 2023, Azernews reports, citing the National Statistical Service (Office for National Statistics, ONS) Of the United Kingdom.

This indicator turned out to be worse than the expectations of experts, who predicted the country's GDP growth of 0.2%. The indicators of the second quarter were also worsened.

According to new data from the statistical office, GDP did not grow from April to June (instead of the previously announced growth of 0.2%). Thus, the country's economy was on the verge of a technical recession, when the recession was recorded for two consecutive quarters.