THE UK economy contracted unexpectedly between July and September by 0.4% leaving the country in recession.

Quarterly growth of 0.2% had been expected in figures released today by the Office for National Statistics (ONS) despite no growth in retail sales last months and a 2.5% decline in industrial output in August.

Although the figures can still be revised up or down, the fall is the first time UK gross domestic product (GDP) has contracted for six consecutive quarters since recording began in 1955.

Dec......for the full story register now for free or login below...