UK braces for recession after recovery from pandemic weaker than thought
by Larry Elliott Economics editor from on (#673K6)
ONS says economy shrank by 0.3% in third quarter, with UK only G7 country whose GDP is still lower than before pandemic
Britain's recovery from the Covid-19 pandemic has been even weaker than originally believed and is the only member of the G7 group of leading industrial countries where output is still below its pre-crisis level.
The Office for National Statistics said the UK economy contracted by 0.3% in the three months to September - compared with an original estimate of a 0.2% decline. The ONS also revised down growth in every quarter stretching back to the third quarter of 2021.
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