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.
The production-side breakdown showed that the marginal growth in services output was offset by declines in industrial production and construction.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.