UK inches closer to technical recession as growth is revised down


People shopping on Oxford Street in London. Picture date: Thursday December 29, 2022. (Photo by James Manning/PA Images via Getty Images)

James Manning – Pa Images | Pa Images | Getty Images

LONDON — The U.K. is edging closer to recession after revised figures showed the economy shrank in the previous quarter.

U.K. gross domestic product (GDP) fell by 0.1% between July and September, a downward revision from the earlier estimate of flat growth, according to new data released Friday by the Office for National Statistics.



This article was originally published by a www.cnbc.com . Read the Original article here. .