UK GDP shrinks by 0.1% in Q3 - Breaking The News
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UK GDP shrinks by 0.1% in Q3

UNSPLASH.COM/BRUNO MARTINS

The United Kingdom's gross domestic product (GDP) contracted by 0.1% in the third quarter compared to the previous three-month period, with the figure revised down compared to the first estimate in which it was predicted there would be no change, the country's Office for National Statistics (ONS) said in its second document published on Friday.

The services sector contracted 0.2%, having seen no growth in the second trimester. The document attributed the decline in the sector mostly to a drop of 1.4% in information and communication, followed by real estate and other service activities. Meanwhile, the production sector expanded by 0.1%.

Year-on-year, the country's GDP grew by 0.3% in the third quarter, missing the previous estimate's projection of 0.6%.

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