The UK GDP contracted 0.3% in the third quarter as a result of sky-high inflation
According to the Office for National Statistics, gross domestic product fell 0.3 percent between July and September, compared to an initial reading of minus 0.2 percent.
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The British economy contracted somewhat more than expected in the third quarter, according to revised government figures released on Thursday.
According to the Office for National Statistics, gross domestic product fell 0.3 percent between July and September, compared to an initial reading of minus 0.2 percent.
According to the ONS, the UK economy grew slower than projected in the first half of 2022.
It comes after the UK government declared that the economy is already in recession as a result of sky-high inflation.
"Revised figures suggest the economy performed slightly less well over the last year than we previously thought, with manufacturing and energy generation significantly weaker," said Darren Morgan, head of economic statistics at the ONS.
It comes as Britain faces widespread strike action by workers in both the public and private sectors, as wage rises fall short of the country's annual inflation rate of over 11%.
