The 0.5% annualised decline in second-quarter GDP, following a downward revised contraction in the first quarter, confirmed that the economy slipped into a technical recession in the first half of this year. With exports still struggling and business investment slumping in response to the fallout in the energy sector, hopes for a meaningful rebound beginning in the second half of the year look misplaced.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.