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Evening Standard
Evening Standard
Business
City Staff

FTSE 100 Live: Recession-bound UK economy declines 0.3% in Q3

The recession-bound UK economy contracted by 0.3% in the third quarter of the year, slightly more than originally thought.

Revisions to output in manufacturing and construction pushed the overall GDP figure down from a previous estimate of 0.2% lower, the Office for National Statistics said.

The period is likely to mark the beginning of a recession in the UK as higher interest rates and inflation take their toll on demand.

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