Thanks for following our coverage of business, economics and markets today. The UK economy shrank by 0.2% in Q2 2019, performing worse than the predicted 0%, according to the Office for National Statistics. GDP growth was revised down from 2.2% to 2.2%, and inflation up from 2.1% to 2.5%. It followed earlier growth forecast warnings from the Bank of England's Monetary Policy Committee, while analysts anticipate a cut to interest rates before Christmas.
The UK economy shrank by 0.2% in Q2 2019, performing worse than the predicted 0%, according to the Office for National Statistics. GDP growth was revised down from 2.2% to 2.2%, and inflation up from 2.1% to 2.5%. It followed earlier growth forecast warnings from the Bank of England's Monetary Policy Committee, while analysts anticipate a cut to interest rates before Christmas.