The British economy grew more than expected in October
In the statement from the British National Office (ONS), it was reported that the country’s Gross Domestic Product (GDP) grew 0.5 percent in October, exceeding the expectation of 0.4 percent.
Recalling that the British economy contracted 0.6 percent in the previous month, it was announced that the British economy contracted 0.3 percent in the three-month period spanning August, September and October.
THE ECONOMY MAY GO INTO RECESSION
In the statement by the London-based Ernst & Young Items Club, it was noted that the British economy was concerned about contraction in the last quarter of this year, and that such a situation would technically send the British economy into recession. .
Commenting on the data, UK Chancellor of Finance Jeremy Hunt said: “These figures confirm that we are going through a very difficult economic period here and around the world. It will recover after the situation worsens.” he used the phrases.
While the British economy grew 0.2 percent in the second quarter of this year, it contracted 0.2 percent in the third quarter. (AA)
Source: Sozcu
Andrew Dwight is an author and economy journalist who writes for 24 News Globe. He has a deep understanding of financial markets and a passion for analyzing economic trends and news. With a talent for breaking down complex economic concepts into easily understandable terms, Andrew has become a respected voice in the field of economics journalism.
