UK – Deep Crisis – Economy

After a weak summer, the British economy is on the brink of what could be a protracted recession. The gross domestic product (GDP) from July to September was 0.2 percent weaker than in the previous quarter, as the statistics office announced on Friday. For comparison: the German economy achieved growth of 0.3 percent in this period. Inflation-stricken British consumers cut back on consumption over the summer months, while businesses invested less. Economists had even expected a sharper decline of 0.5 percent. If there are two negative quarters in a row, there is talk of a recession. The Bank of England recently warned of the risk of a two-year recession.

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