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

Date:


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.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Share post:

Subscribe

spot_imgspot_img

Popular

More like this
Related

How Amazon orders get to your door as shoppers gear up for Cyber Monday

How Amazon orders get to your door as...

Married GMA Co-Hosts Amy Robach & T.J. Holmes In Months-Long Affair! Caught On Video!

If you happen to’ve ever been watching a...

Use of drugs for weight loss causes shortage

Use of medication for weight reduction causes scarcity...

Lindsey Graham Is Teaming Up With Elizabeth Warren To Regulate Twitter, Apple, Google, And Facebook

Sen. Lindsey Graham introduced that he's working with...