Editor's comment
According to the BBC, the economy shrank for the first time in 16 years between July and September, ...
According to the BBC, the economy shrank for the first time in 16 years between July and September, confirming that the UK is on the brink of recession. On top of that, output fell by 0.5%, according to the Office for National Statistics, a bigger-than-expected drop, knocking UK shares and weakening the pound. But what does this mean? Well, it means the UK will be classed as being in recession if the economy slows in the fourth quarter as well.
This month, Insurance Age conducted a survey among
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