BUSINESS

UK At Risk Of Recession After Economy Shrinks

The UK is at risk of recession after revised figures showed the economy shrank between July and September.

Gross domestic product, which measures the health of the economy, contracted by point one percent after previous estimates suggested growth has been flat.

Meanwhile, there was zero growth between April and June, after it was first calculated to have risen by point two percent.

A recession is typically defined as when the economy shrinks for two three-month periods – or quarters – in a row.

There have been concerns over the UK’s weak economic growth for some time, but the country has managed to avoid a recession so far.

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Readers Bureau, Contributor

 Edited by Jesus Chan

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