U.K. Economy Shrank in Second Quarter as Inflation Hit Households


LONDON—The U.Okay. economic system contracted within the second quarter as households facing soaring inflation reduce on spending and packages to include the unfold of Covid-19 had been wound down, presaging robust occasions for an economic system that’s anticipated to enter a prolonged recession.

Britain’s statistics company stated Friday that gross home product—a broad measure of the products and companies produced in an economic system—fell 0.1% within the three months via June. Economists anticipated a 0.2% lower in output, following a 0.8% rise within the first quarter.


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