11/28/2024
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UK economy shrinks between April and June
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    Friday August 12, 2022

    The UK economy shrank between April and June, official figures show.

    The economy contracted by 0.1% in the second quarter of the year, the Office for National Statistics (ONS) said.

    That compares to the first three months of this year when gross domestic product (GDP) - which measures economic activity - grew.

    The Bank of England has forecast the UK will fall into recession towards the end of this year and the downturn will last for the entirety of next year.

    As well as releasing figures for the second quarter, the ONS also announced that the economy shrank by 0.6% in June due to the extra bank holiday to celebrate the Queen's Platinum Jubilee.

     





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