A 0.2 percent quarter-on-quarter rise had been forecast but it actually came in at -0.4 per cent for July to September. This means the UK has suffered six consecutive quarters of negative growth, the longest recession the country has seen. Although a quick recovery was hoped for, it looks as though this recession could continue for some time.
Such disappointing figures point to a likely extension of quantitative easing by the Bank of England Monetary Policy Committee when it meets on 5 November. At the same time, interest rates are set to stay at 0.5 per cent for many months to come.