UK staves off recession threat for now with stagnant quarter

A quarter of stagnation had been predicted by the Bank of England, which expects the economy to register no growth at all next year

London commuters arrive in the City on London Bridge as official figures today reveal the UK is officially in recession. The economy saw its worst output performance since 1980 in the final three months of 2008.

The UK economy flatlined in the third quarter, defying forecasts of a small contraction and ensuring a recession is avoided this year, as strong trade came to the rescue of poor domestic activity.

Gross domestic product was unchanged from the second quarter, the Office for National Statistics said Friday. Economists surveyed by Bloomberg had forecast a 0.1% decline on average. In September alone, GDP rose 0.2%.