Global Economic News

UK Economy Headed For Long Recession? Revised GDP Fall Signals Hard Times Likely

The UK economy contracted more than estimated in the third quarter on downward revisions to industrial and construction output, vindicating the start of a long recession.

The quarterly decline in gross domestic product was revised to -0.3 percent from -0.2 percent, revised data from the Office for National Statistics showed on Thursday.

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by Renju Jaya

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