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

ONS says two bank holidays to mark Queen’s jubilee contributed to fall in output in June

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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Read the original article at The Guardian

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