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UK economy shrinks by more than first thought in the third quarter of this year

December 22, 2022

Via: Sky News
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Gross domestic product (GDP), the value of all the goods and services produced in the country, fell by a revised 0.3% against the 0.2% decline initially estimated from July to September, the Office for National Statistics said.

The official definition of a recession is two consecutive quarters of negative growth. It would happen should the economy also contract in the fourth quarter of this year.

The manufacturing and construction sectors performed worse than originally thought.

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