The latest GDP figures released show that the UK economy contracted by 0.4% between July and September, contrary to most experts’ views thaat we would see a slight increase in GDP in that period, signalling the end of the recession and start of a nationwide party. Possibly.
Although the 0.4% decline is only an estimated figure, and could change, it’s unlikely that it will be revised up to a positive figure given further data.
GDP has now been contracting for 6 quarters, which is the longest period of recession since records began in 1955.
photo credit: janiejonesmt
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