Probably best to put that champagne on ice, because the UK hasn’t exited the recession as had been expected.
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