{"id":376190,"date":"2023-12-23T06:45:55","date_gmt":"2023-12-23T01:45:55","guid":{"rendered":"https:\/\/leadpakistan.com.pk\/news\/?p=376190"},"modified":"2023-12-23T06:45:55","modified_gmt":"2023-12-23T01:45:55","slug":"uk-economy-shrinks-before-election-year","status":"publish","type":"post","link":"https:\/\/leadpakistan.com.pk\/news\/uk-economy-shrinks-before-election-year\/","title":{"rendered":"UK economy shrinks before election year"},"content":{"rendered":"

LONDON
\nBritain\u2019s economy unexpectedly shrank in the third quarter and flatlined in the previous three months, official data showed Friday, raising fears of a recession before an election due next year.
\nThe downbeat news delivers a blow to Conservative Prime Minister Rishi Sunak, who trails opposition Labour leader Keir Starmer in the polls despite a sharp slowdown of inflation. Gross domestic product (GDP) contracted 0.1 percent between July and September on sliding services output, down from a prior estimate of zero, the Office for National Statistics (ONS) said in a statement.
\nActivity was hit by the Bank of England\u2019s aggressive interest-rate hikes, which are aimed at curbing elevated inflation and easing a cost-of-living crisis. The ONS added that the economy turned flat in the second quarter, slashing its previous estimate of 0.2-percent expansion.
\nThat sparked speculation over a potential recession which is defined as two straight quarters of negative economic growth. \u201cThe fall in real GDP in the third quarter may mean that the mildest of mild recessions started,\u201d noted Capital Economics analyst Ashley Webb. \u201cBut whether or not there is a small recession, the big picture is that we expect real GDP growth to remain subdued throughout 2024.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

LONDON Britain\u2019s economy unexpectedly shrank in the third quarter and flatlined in the previous three months, official data showed Friday, raising fears of a recession before an election due next year. The downbeat news delivers a blow to Conservative Prime Minister Rishi Sunak, who trails opposition Labour leader Keir Starmer in the polls despite a […]<\/p>\n","protected":false},"author":2,"featured_media":376214,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":{"0":"post-376190","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-world"},"yoast_head":"\nUK economy shrinks before election year<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/leadpakistan.com.pk\/news\/uk-economy-shrinks-before-election-year\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"UK economy shrinks before election year\" \/>\n<meta property=\"og:description\" content=\"LONDON Britain\u2019s economy unexpectedly shrank in the third quarter and flatlined in the previous three months, official data showed Friday, raising fears of a recession before an election due next year. The downbeat news delivers a blow to Conservative Prime Minister Rishi Sunak, who trails opposition Labour leader Keir Starmer in the polls despite a […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/leadpakistan.com.pk\/news\/uk-economy-shrinks-before-election-year\/\" \/>\n<meta property=\"og:site_name\" content=\"Daily Lead Pakistan\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/DailyLeadPak\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-12-23T01:45:55+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/leadpakistan.com.pk\/news\/wp-content\/uploads\/2023\/12\/779647_13058579.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"752\" \/>\n\t<meta property=\"og:image:height\" content=\"423\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Web Desk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" 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