
UK economy “steadily grew” or “in a recession”?
According to the Office for National Statistics, Britain’s annual economy rate in the third quarter has slowed to 1%. It’s the slowest speed in the recent decade, a ONE spokesman said to BBC.
The GDP failed to achieve economists’ estimations. The Bank of England expected that the economy in the third quarter would grow by 0.4%. Although the economy avoided a recession, the second quarter’s figure decreased to 1.3%.
Some statisticians said economic growth in the third quarter was due to the good economic growth in July. The dominant services sector increased in the second quarter, but the manufacturing industry did not grow, said Suren Thiru, head of economics at the British Chambers of Commerce (BCC).
Faisal Islam, an economics editor, thought the “pretty soft” economy in the