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UK recession fears recede amid surprise economic growth  

The chances of the UK avoiding recession have improved following a better-than-expected 0.3% increase in activity in July.

Data from the Office for National Statistics showed that all sectors of the economy registered growth in the month – the first of the third quarter.

Fears that Britain might slip into recession – defined as two consecutive quarters of falling gross domestic product – had been stoked by the 0.2% decline in output in the three months to June. But in July the services sector – which accounts for about 80% of the economy – grew by 0.3%, while the struggling manufacturing and construction sectors also bounced back with increases in output of 0.3% and 0.5% respectively. Read more HERE.

The chances of the UK avoiding recession have improved following a better-than-expected 0.3% increase in activity in July.

Data from the Office for National Statistics showed that all sectors of the economy registered growth in the month – the first of the third quarter.

Fears that Britain might slip into recession – defined as two consecutive quarters of falling gross domestic product – had been stoked by the 0.2% decline in output in the three months to June. But in July the services sector – which accounts for about 80% of the economy – grew by 0.3%, while the struggling manufacturing and construction sectors also bounced back with increases in output of 0.3% and 0.5% respectively. Read more HERE.

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Published on 09/09/2019 @ 10h54   | |