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  • mhm, Britain's economy recovered faster than expected in the third quarter.

  • That's according to official data released Tuesday.

  • It showed gross domestic product grew a record 16% from July to September.

  • That was not enough, though, to make up for its near 19% slump in Q two, when much of the country was shut down.

  • Household income grew as many workers went back to work after temporary layoffs.

  • Consumer spending rose by almost 1/5 as households spent savings piled up during the previous quarter when people were ordered to stay at home.

  • But the Bank of England says this summer's positive GDP figures will not be repeated in Q four.

  • It predicts GDP will shrink again as worries about the Brexit deadline on December 31st, a new lock down restrictions take hold.

  • Tuesday's data showed the economy was 8.6% below where it was at the end of 2019, less than an initial estimate of 9.7%.

  • The economic updates came as government borrowing also soared in the first eight months of the year.

  • New figures show the UK borrowed a record $323 billion around 255 billion MAWR than in the same period the previous year.

  • The country's budget forecasters think the deficit will hit around $537 billion over the financial year, close to 20% of GDP.

  • If so, it will be double the hit from the global financial crisis.

mhm, Britain's economy recovered faster than expected in the third quarter.

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B1 gdp grew record financial quarter previous

UK GDP grew by record 16% in Q3

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    林宜悉 posted on 2020/12/24
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