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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by Renju Jaya
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