Business leaders in the West Country are urging the government to take “more decisive action” to stabilise the economy as predictions of a recession gain strength.
Britain’s economy unexpectedly shrank in August as factories and consumer services firms struggled, putting the UK on track to contract overall in the third quarter, according to official figures.
The Office for National Statistics (ONS) said on Wednesday (October 12) that gross domestic product (GDP) dropped by 0.3% between July and August - down from growth of 0.1% the previous month - which was downwardly revised from the 0.2% previous estimation. Economists had been expecting zero growth in August.
