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The Guardian - UK
The Guardian - UK
Business
Phillip Inman

UK economy shrinks by 0.1% in second quarter as recession looms

Crowds throng the Mall to watch the platinum jubilee concert outside Buckingham Palace, London, in June.
Crowds throng the Mall to watch the platinum jubilee concert outside Buckingham Palace, London, in June. Photograph: Niklas Halle’n/AP

Britain’s recovery from the pandemic stalled in the three months to June when the economy contracted by 0.1%, according to official figures that revealed the weakening outlook for the UK, which is expected to enter a recession later this year.

Exports fell and consumer spending contracted to push the UK closer to a long period of contraction that the Bank of England expects will stretch to the end of 2023.

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