Today, Wednesday, economic data showed that the British economy contracted by 0.3% in August, compared to previous expectations of its stability.
According to the data, the British economy contracted last August due to weak manufacturing and maintenance work that affected the oil and gas sector in general.
The British economy grew by 0.1% last July, after adjusting the data.
Britain's economic growth contracted for the three months to August, by 0.3%, compared to the other three months until last May.
The British economy contracted in the second quarter of 2022, as the cost of living crisis intensified in the country, recording a contraction of 0.1% on a quarterly basis.
The Bank of England warned last August that it expected the British economy to enter its longest recession since the global financial crisis in the fourth quarter, with inflation expected to peak and exceed 13% in October 2022.
