Friday 30 September 2022 08:41 AM Glimmer of good news as UK economy ISN'T in recession (yet) trends now
Friday 30 September 2022 08:41 AM Glimmer of good news as UK economy ISN'T in recession (yet) trends now
The UK is NOT in recession (yet): Economy grew 0.2% in second quarter, revised from a 0.1% fall... but GDP is STILL lower than before Covid after size of 2020 recession is UPGRADED ONS has revised Q2 GDP performance from 0.1 per cent fall to 0.2 per cent rise It means that the UK will not technically be in recession if GDP falls this quarter Better performance largely down to scale of Covid downturn being upgraded
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The UK economy might not officially be in recession after revised figures showed it stayed in the black in the second quarter.
Initial estimates suggested that GDP fell by 0.1 per cent between April and June - but that has now been tweaked to 0.2 per cent growth.
As a result UK plc might not be in a technical recession - defined as two quarters of decline in a row - as the Bank of England said earlier this month.
However, the improved number for April-June was largely down to a grimmer
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