Revised official statistics show a GDP contraction in the third quarter.
Britain’s economy unexpectedly contracted in the third quarter of the year, raising the possibility that the country is already in a recession, the latest data shows.
Third quarter GDP dropped 0.1% from the previous quarter after initial estimates suggested growth had been flat, according to a revised report by the Office for National Statistics (ONS) released on Friday. The ONS also downgraded its GDP figure for the second quarter, saying there was no growth between April and June, compared to the 0.2% expansion previously estimated.
According to the report, the fall in GDP was due to the struggling services sector, which accounts for four-fifths of UK output. Services fell 0.2%, more than offsetting growth of 0.4% in construction and 0.1% in production. Economists say the revision to the third quarter puts the UK at risk of a technical recession, which is typically defined as two quarters or more of falling GDP. Data shows that output decreased 0.3% in October on a month-on-month basis, putting the economy on track to shrink in the fourth quarter.
“The mildest of mild recessions may have begun in the third quarter,” Capital Economics analyst Ashley Webb was quoted as saying by Bloomberg. “Looking ahead, the latest activity surveys point to weak GDP growth in the fourth quarter too,” he added.
Separate data from the ONS showed that retail sales grew by more than expected last month, with trading boosted by earlier-than-usual and wider Black Friday discounts. Meanwhile, experts say revised GDP figures could increase the pressure on the Bank of England, prompting it to start cutting rates again. The regulator had earlier projected a 50% chance of a recession in the second half of the year.
Image credit: João Barbosa
No free speech✅
A gestapo/KGB like police force more obnoxious than the worst school prefects you remember, there only to police law abiding citizens’ unpopular opinions while actual crime runs rampant✅
A cheesy, neutered monarch with no actual power✅
An outdated and overgrown government bureaucracy, hundreds of years old, focused solely on new and inventive ways to make their citizens lives ever harder and harder✅
A continuous string of broken political promises and state usurpations✅
A conspicuously empty parliament every time Andrew Bridgen steps up to present growing evidence of vaccine injuries✅
An unelected PM✅
A hopelessly, hilariously over-regulated economy✅
An ageing population and their government-sponsored, culturally-incompatible “replacements” waiting in the wings to declare a new caliphate soon as the demographics have ticked over the required threshold✅
An insidious mainstream media, globalist-owned and in full lockstep, who will try to frame this recession as a “strategic shrinkage” or some such variation of male cow excrement✅
And always worth a mention: bland food and awful weather✅
So yes, things might not always be perfect here in NZ, but they could certainly be worse. There’s a reason people have spent the past five or six centuries climbing into boats and braving stormy seas, scurvy, starvation and pirates just to get the hell away from the UK. If you’re unfortunate enough to be trapped there this Christmas, my thoughts and prayers are with you 😢🙏
Check out the below;
https://www.youtube.com/watch?v=oAesgdmj2YE
The living conditions in the UK for the poor and dispossessed are now equal in both the living environment and the Victorian-era of diseases that such brought 150 years ago!
It’s called ‘Old Blighty’ for a reason…but now it’s become a haven for Globalist Vaccine Murderers!! to avoid their responsibilities in Parliament.
I give it 5 more years before the British are displaced with the Caliphate that once again will be repeating early British history with public decapitations for the ‘unholy Christian ones!’
Things could be a lot worse
If UK Europe was still not getting repackaged Russian oil through proxies India and China
Disruptions in the Red Sea could have flow on consequences too
Not exactly intelligent to be complicit in blowing up Your Own means of supply and willfully sabotaging Your Own economy
So what was the point?
Video: America is at War with Europe
https://www.globalresearch.ca/video-america-is-at-war-with-europe/5808102
I’m surprised there hasn’t been another civil war, the place is an Orwellian ruin……
They could plug London’s entire electric grid into Orwell’s coffin with the amount of spinning he’s doing in there.