CITY AM – New GDP data to show start of recession
CITY AM SAYS New figures out on Friday are expected to show that the economy contracted in the third quarter, raising the possibility that the UK is already in a recession.
City economists expect that UK GDP shrunk by 0.1 per cent in September, meaning that the economy will have contracted across the third quarter by the same amount.
This is a more pessimistic view than the Bank of England’s forecasts, released last week, which suggest the economy will be stagnant in the third quarter.
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