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UK economy shrinks by 0.3% on back of manufacturing slump

August GDP data from ONS gives strong signal that UK is entering recession

Britain’s economy shrank by 0.3% in August from July, hit by a slump in manufacturing and by maintenance work that slowed the oil and gas sector, official data showed.

Giving a strong signal that the UK is entering a recession, the Office for National Statistics said manufacturing declined by 1.6% while the cost of living crisis appeared to hit hotels, restaurants and the leisure industry.

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Read the original article at The Guardian

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