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ZGBR - U.K. Economy To Avoid Recession But Weaker Growth Trend Evident
SPDR Solactive United Kingdom ETF
The latest official data show the UK economy is likely to avoid a recession, though a drop in GDP in August hints at a weakening trend going forward.
Economy contracts
Official GDP data showed the economy contracted slightly in August, with GDP down 0.1% compared to July. Only the construction sector showed any growth, with a sharp decline in manufacturing and falling agriculture output accompanied by a stagnant service sector. However, the disappointing August numbers come on the heels of a stronger than previously thought July, leaving the economy on course to expand in the