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22nd Dec 2022 15:52U.K., Daily Monitor

  • Q3 GDP has been revised down to -0.3% in Q3, from -0.2%, leaving the U.K. straggling behind its peers.
  • Real spending plunged; the decline in Q3 GDP was not just due to the public holiday for the Queen’s funeral.
  • Consumption will fall in lockstep with households’ real incomes in 2023; GDP looks set to contract by 1.5%.

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