28 minutes agoQueen Elizabeth's funeral is expected to affect British economy
Periskopi(4 years ago)
(4 years ago)The United Kingdom economy threatened by the recession recovered in July, according to the latest data, but is expected to receive a further blow from the funeral of Queen Elizabeth II next week. The gross British domestic product expanded by 0.2 percent after a 0.2 percent drop in [...]
The gross British domestic product expanded by 0.2 percent after a 0.2 percent drop in June, the Office for National Statistics said in a statement.
The June fall was partly attributed to an additional public holiday for the queen's Platinum jubilee, marking 70 years on the throne before dying last week.
Another public ceremony is scheduled next Monday for the queen's state funeral.
Britain usually has only one public holiday in early summer, but the sum doubled for the jubilee.
Rest for millions of Britons next Monday means the economy will have two public holidays more than usual in 2022.
The Bank of England expects the United Kingdom economy to enter recession before the end of the year on high inflation for decades driven by increased energy and food bills. /abcnews. al
