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Dave Spart

Uk Economy Shrinks At Worse Pace Than Expected.

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The UK economy contracted for a fifth successive quarter but at a slower pace than previously.

The Office for National Statistics said the economy shrank by 0.8% between April and June, from a 2.4% contraction in the first quarter of the year.

The latest figure was worse than analysts expectations of a 0.3% decline in economic output.

The latest figures take the annual rate of decline to 5.6%, with any recovery not coming until later in the year.

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