GDP figures reveal UK and US are slowing but neither slipping into recession
The US and UK economies are officially growing at their slowest rates in years, although neither have officially slipped into recession, according to GDP figures released at the end of July. The US economy posted an annualised growth rate of 0.7% in the second quarter, compared to a restated figure of 1.3% for the first quarter. Analysts were expecting the figure to be nearer 1%, but the markets reacted with relative indifference to the shortfall. The UK economy grew at an annualised rate of 0.3% in the second quarter and annual growth slowed to 2.1% year on year, figures broadly in line ...
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