UK economic contraction heralds start of protracted recession

The Bank of England, which has raised interest rates eight times since December, says a recession is the inevitable price of bringing double-digit inflation under control
UK economic contraction heralds start of protracted recession

British household spending fell by 0.5% in the quarter.

The UK economy shrank in the third quarter for the first time since the final lockdown of the pandemic as the cost-of-living crisis squeezed spending.

Gross domestic product fell 0.2%, marking the start of what is expected to be a protracted recession.

Already a subscriber? Sign in

You have reached your article limit.

Unlimited access. Half the price.

Annual €120 €60

Best value

Monthly €10€5 / month

More in this section

The Business Hub

Newsletter

News and analysis on business, money and jobs from Munster and beyond by our expert team of business writers.

Cookie Policy Privacy Policy Brand Safety FAQ Help Contact Us Terms and Conditions

© Examiner Echo Group Limited