Portfolio Caption Here

Financial Markets Online featured on Yahoo Finance

Yahoo finance
Yahoo finance

Recession fears stoked as UK manufacturing plunges

Yahoo Finance

UK economic growth came in weaker than expected in August and the country’s manufacturing sector saw a dramatic plunge in output during the same month — two data points that will stoke fears of a recession.

Economic activity declined by 0.1% in August compared to July, meaning that the economy contracted on a monthly basis for the first time since April. Manufacturing saw a surprise 0.7% decline, way below the 0.1% growth analysts had expected.

Compared with the same month last year, manufacturing plunged by 1.7%, even though car plants were expected to boost output after moving forward their usual summer shutdowns to April to coincide with the original Brexit deadline.

error: Content is protected !!