UK economy shrinks but set to avoid recession | The Daily Star
12:00 AM, October 11, 2019 / LAST MODIFIED: 12:00 AM, October 11, 2019

UK economy shrinks but set to avoid recession

Britain’s Brexit-facing economy shrank in August, official data showed Thursday, but analysts say a better-than-expected July is expected to help it avoid recession.

Gross domestic product -- the combined value of all goods and services produced in the economy -- slid 0.1 percent in August from July, the Office for National Statistics said in a statement.

That contrasted however with upwardly-revised monthly expansion of 0.4 percent in July.

Sterling barely budged on the August reading, which was only moderately worse than market expectations of zero growth.

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