The UK economy unexpectedly shrank in the third quarter, raising the possibility that Britain is already in a recession and fueling bets on the Bank of England pivoting to interest-rate cuts as soon as the spring.
Revised figures Friday showed GDP dropped 0.1% from the second quarter, a downgrade from the zero growth initially estimated. Economists had expected the second estimate to be unchanged.
Read More : UK Economy Shrinks, Escalating Risk of Recession