'Disappointing' UK economy contraction explained

The official definition of a recession is two consecutive quarters of negative growth. The UK economy contracted by 0.2% in the third quarter, early official figures show - prompting the chancellor to warn that the "tough road ahead" will require "extremely difficult decisions". The figure marked the first step towards recession. #uk #economy #money SUBSCRIBE to our YouTube channel for more videos:    / skynews   Follow us on Twitter:   / skynews   Like us on Facebook:   / skynews   Follow us on Instagram:   / skynews   Follow us on TikTok:   / skynews   For more content go to http://news.sky.com and download our apps: Apple: https://itunes.apple.com/gb/app/sky-n... Android https://play.google.com/store/apps/de... Sky News videos are now available in Spanish here/Los video de Sky News están disponibles en español aquí https://www.youtube.com/channel/skyne... Sky News videos are also available in German here/Hier können Sie außerdem Sky News-Videos auf Deutsch finden:    / channel   To enquire about licensing Sky News content, you can find more information here: https://news.sky.com/info/library-sales