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

Join now

 

Already a Professional Pensions
member?

Login

More on Industry

UK economy grows by 0.2% in August after two months of stagnation

UK economy grows by 0.2% in August after two months of stagnation

After no growth in June and July

Sorin-Andrei Dojan
clock 11 October 2024 • 2 min read
Isio acquires K3 Advisory

Isio acquires K3 Advisory

Acquisition set to ‘bolster’ Isio’s risk settlement capabilities

Holly Roach
clock 11 October 2024 • 2 min read
Professional Pensions: Stories of the week

Professional Pensions: Stories of the week

Royal Mail CDC scheme launches, £1.5bn buy-in deal agreed, WTW proposals for fixing ‘broken’ DC sector

Professional Pensions
clock 11 October 2024 • 1 min read
Trustpilot