Output remains below pre-Covid levels while other Group of Seven members have pulled ahead, according to the Office for National Statistics The UK economy contracted by more than previously estimated in the third quarter of 2022, lagging further behind other advanced economies, the Office for National Statistics (ONS) reported on Thursday. The ONS data showed that economic output fell by 0.3% in quarterly terms compared with initial estimates of a 0.2% contraction. The manufacturing and construction sectors have suffered the worst declines. The report also indicated that in the third quarter, the economy was 0.8%
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