The UK economic output contracted unexpectedly in August on decelerating manufacturing and services activity, signaling that the economy is sliding into a recession.
Gross domestic product shrank 0.3 percent month-on-month, in contrast to the revised 0.1 percent growth in July, the Office for National Statistics reported Wednesday. GDP was forecast to stall after July's initially estimated growth of 0.2 percent.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.