UK economy avoids recession with 0.3% Q3 growth

1010 WINS Newsroom
November 11, 2019 - 4:49 am

LONDON (AP) — Official figures show that the British economy avoided falling into recession in the third quarter of the year.

The Office for National Statistics said Monday that the economy grew by a quarterly rate of 0.3%. That was in line with market expectations.

Following the 0.2% contraction in the second quarter, there had been fears that the British economy would fall into recession — commonly defined as two consecutive quarters of negative growth.

Though a recession was avoided, the British economy remains relatively weak, largely because of uncertainty related to Brexit. On an annual basis, the British economy was only 1% bigger in the third quarter, its weakest year-on-year growth since the start of 2010.

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