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 in the reduction of on spending and applications to comprise the unfold of Covid-19 have been wound down, presaging powerful occasions for an economic system that’s anticipated to enter a prolonged recession.

Britain’s statistics company mentioned 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 by way of June. Economists anticipated a 0.2% lower in output, following a 0.8% rise within the first quarter.


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