UK economy shrinks by 0.1% as cost of living bites

High interest rates continuing to 'suppress consumption and sentiment'

Eve Maddock-Jones
clock • 1 min read
UK economy shrinks by 0.1% as cost of living bites

The UK GDP contracted by 0.1% in the second quarter of the year, data from the Office for National Statistics (ONS) shows.

This decline compares to the first three months of this year when GDP grew by 0.8%. The reduction was less than the 0.3% decline forecast by analysis, but it shows signs that rising inflation an...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Are you a trustee, investment consultant or in-house pension and benefit scheme professional? You can apply for full complimentary access here

Join now

 

Already a Professional Pensions
member?

Login

More on Industry

The 12 days of pensions

The 12 days of pensions

Pensions UK's take on a festive favourite

Cali Sullivan and Mark Smith
clock 19 December 2025 • 5 min read
Professional Pensions: Stories of the week

Professional Pensions: Stories of the week

Mercer to invest in Schroders LTAF, Aviva DB surplus transfer solution, DWP trustee consultation

Professional Pensions
clock 19 December 2025 • 1 min read
News Digest: Kent Pension Fund in SPPA discussions with Surrey Pension Fund

News Digest: Kent Pension Fund in SPPA discussions with Surrey Pension Fund

PP brings together all the latest news on pensions from across the national and financial media

Professional Pensions
clock 19 December 2025 • 1 min read
Trustpilot