UK GDP shrinks 0.2% in Q3 compared to last

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The UK’s Gross Domestic Product (GDP) shrank 0.2% in the third quarter of this year from the second, according to the country’s Office for National Statistics (ONS) initial estimate, released on Friday. fair (11).

The result represents the first quarterly contraction of the British economy since the first three months of 2020, when the first economic shock related to the Covid-19 pandemic occurred.

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In the second quarter, the GDP of the European island country had advanced 0.2% compared to the first.

On an annual basis, the British GDP increased by 2.4% between July and September, according to the ONS.

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The indicators confirm the forecasts of the Bank of England (BoE), which projects a recession in the final stage of this year while raising interest rates aggressively to contain the historic escalation of inflation.

In September, the UK Consumer Price Index (CPI) advanced at an annual rate of 10.1%.

Source: CNN Brasil

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