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)