Economy Shrinks for 9th Time, Recession Fears Grow

Economy Stagnates, Recession Fears Mount: Latest figures show the economy shrank by 0.1% in October, following a similar drop in September and no growth in August. This news adds to growing concerns about the nations financial health, with economists pointing to budget leaks and a weak job market as major reasons for the downturn. The services sector and construction both saw contractions, while production grew but fell short of expectations. Experts warn of a bumpy road ahead, with a significant risk of further economic shrinkage and recession indicators flashing red.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.