UK avoids recession in boost for under-fire Truss ...Middle East

LONDON: Britain is not yet in recession, revised data showed Friday in a boost for under-fire Prime Minister Liz Truss, but its economy may still face a downturn on soaring interest rates.Gross domestic product expanded 0.2 percent in the second quarter, the Office for National Statistics, an upgrade from its previous estimate of a 0.1-percent contraction.Even if the economy has contracted in the current third quarter that ends Friday, it would mean the UK had avoided two successive quarters of contraction -- the technical definition of a recession.The turnaround follows a rough week for Truss as the country's borrowing costs have soared while the pound took beating in the markets after her

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UK avoids recession in boost for under-fire Truss ...Middle East

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