U.K. on the Brink of Another Recession

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By Trey Thoelcke Published
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Add the United Kingdom to the long line of countries that have gotten into more economic trouble that expected. The Office for National Statistics cut its figure for third-quarter GDP growth to 0.9%, in place of the 1% previously posted. That puts the nation on the cusp of a recession, like so many others in the region. Many there already have fallen into a period of “negative growth.”

The Office for National Statistics reports:

  • UK gross domestic product (GDP) in volume terms increased by 0.9 per cent between the second and third quarter of 2012, revised from the previously estimated increase of 1.0 per cent.
  • Output of the production industries rose by 0.7 per cent revised down from the previously estimated 0.9 per cent increase. Manufacturing output rose by 0.7 per cent, revised down from the previously estimated increase of 0.9 per cent.
  • Output of the service industries rose by 1.2 per cent, revised down from the previously estimated increase of 1.3 per cent.
  • Output of the construction industry fell by 2.5 per cent, revised up from the previously estimated 2.6 per cent fall.
  • Household final consumption expenditure increased by 0.4 per cent in volume terms in the latest quarter, revised down from the previously estimated increase of 0.6 per cent.
  • In current price terms, compensation of employees rose by 0.7 per cent in the third quarter of 2012, revised down from the previously estimated increase of 1.4 per cent.
  • The households’ saving ratio was 7.7 per cent in 2012 quarter three, up from 7.4 per cent in the previous quarter.

Douglas A. McIntyre

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About the Author Trey Thoelcke →

Trey has been an editor and author at 24/7 Wall St. for more than a decade, where he has published thousands of articles analyzing corporate earnings, dividend stocks, short interest, insider buying, private equity, and market trends. His comprehensive coverage spans the full spectrum of financial markets, from blue-chip stalwarts to emerging growth companies.

Beyond 24/7 Wall St., Trey has created and edited financial content for Benzinga and AOL's BloggingStocks, contributing additional hundreds of articles to the investment community. He previously oversaw the 24/7 Climate Insights site, managing editorial operations and content strategy, and currently oversees and creates content for My Investing News.

Trey's editorial expertise extends across multiple publishing environments. He served as production editor at Dearborn Financial Publishing and development editor at Kaplan, where he helped shape financial education materials. Earlier in his career, he worked as a writer-producer at SVE. His freelance editing portfolio includes work for prestigious clients such as Sage Publications, Rand McNally, the Institute for Supply Management, the American Library Association, Eggplant Literary Productions, and Spiegel.

Outside of financial journalism, Trey writes fiction and has been an active member of the writing community for years, overseeing a long-running critique group and moderating workshop sessions at regional conventions. He lives with his family in an old house in the Midwest.

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