{"id":111043,"title":"Flatlining economy leaves UK at risk of recession","publisher":"Share Talk","author":"sharetalk","published":"2023-11-10T08:06:53+00:00","modified":"2023-11-10T08:09:22+00:00","canonical_url":"https://www.share-talk.com/flatlining-economy-leaves-uk-at-risk-of-recession/","markdown_url":"https://www.share-talk.com/flatlining-economy-leaves-uk-at-risk-of-recession.md","json_url":"https://www.share-talk.com/flatlining-economy-leaves-uk-at-risk-of-recession.json","category":"B2B","categories":["B2B","Blogs","Business & Support Services","Technology","Technology, Media & Telecoms"],"tags":["Autumn Statement","BRITAIN","Chancellor","economy","flatlined","GDP","Gross Domestic Product","Jeremy Hunt","UK"],"featured_image":"https://i0.wp.com/www.share-talk.com/wp-content/uploads/2023/11/LONDON-10_11_23.jpg?fit=1200%2C800&quality=89&ssl=1","format":"news","language":"en-GB","content":"The UK’s economy showed no growth in the third quarter, as indicated by the latest official data, presenting a challenge for the Chancellor prior to the Autumn Statement.\n\nThe Office for National Statistics reported that the Gross Domestic Product (GDP) remained unchanged over the three months leading to September.\n\nEconomists had generally anticipated a slight contraction of the economy by 0.1 percent.\n\nThis stagnation brings the economy to the brink of a recession, with the potential for future revisions to push the figures lower. A recession is technically defined by two consecutive quarters of economic decline.\n\nChancellor Jeremy Hunt remarked, “To grow our economy sustainably, the current priority is to adhere to our plan and tackle inflation decisively.\n\n“The Autumn Statement will outline our strategy to stimulate robust economic growth by spurring investment, encouraging workforce participation, and overhauling public services, thereby driving the growth our nation requires.”\n\nThe third quarter’s economic outcome was below the projections made by the Office for Budget Responsibility (OBR), which had anticipated growth, though it matched the Bank of England’s predictions.\n\nThe GDP had seen a slight increase of 0.2 percent in the second quarter, following a 0.3 percent rise in the first quarter."}