UK Fell Deeper Into Recession in Fourth Quarter, CBI Survey Says
- Reduced consumer spending has weighed on business activity
- Festive boost in retail sales will be short-lived, CBI says
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The UK economy probably tumbled deeper into recession in the final three months of the year as output in the private sector slowed sharply, a leading business group said.
The Confederation of British Industry said activity fell in the fourth quarter at double the pace of the three months through November. That signals an even sharper downturn in December even though a public holiday for Queen Elizabeth II’s funeral in September distorted figures.