Country in 'longest recession in century'
Manchester Evening News|November 12, 2022
THE UK may have entered what experts say could be the longest recession in a century as official statisticians said the economy shrank by 0.2% between July and September.
Country in 'longest recession in century'

The Office for National Statistics (ONS) said gross domestic product (GDP) fell by 0.6% in September, in part due to the Queen's funeral.

It added to a 0.2% drop for the full quarter - lower than had been expected as the ONS revised its estimates for July and August.

They are the biggest quarterly and monthly falls since early 2021 when the UK went back into lockdown to combat the Covid-19 virus, the ONS said.

If the economy also shrinks in the final three months of this year - as experts predict it would push the economy into a recession that could last for two years.

It would also be the first time since 1975 that the UK has gone from one recession to another so quickly, economists at the Resolution Foundation said.

This story is from the November 12, 2022 edition of Manchester Evening News.

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This story is from the November 12, 2022 edition of Manchester Evening News.

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