Economics
U.K. Economy Probably Shrank for First Time in Seven Years
- GDP probably fell 0.1% in the three months to June: survey
- Retail sales fell in June, separate BRC report shows
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The U.K. economy probably shrank for the first time since 2012 in the second quarter, according to Bloomberg’s latest survey of economists.
The prediction for a 0.1% contraction in the three months through June marks a downgrade from the previous poll, when economists only predicted stagnation. The forecast came as retail industry reported another drop in sales and said “the picture is bleak.”