The UK’s gross domestic product (GDP) contracted 0.1% in the third quarter from the previous three months as Europe’s second-largest economy stagnated, according to revised data released by the Office for National Statistics. (ONS), which leave the country on the brink of technical recession.

The reduction of the growth estimate by the British statistical office confirms a much more negative evolution of economic activity than initially estimated, since until now it had been estimated that the United Kingdom’s GDP had stagnated in the third quarter and that grew by 0.2% between April and June.

The contraction of the economy in the third quarter reflected a decline in the services sector of 0.2%, which offset the expansion of 0.1% in the production sector and 0.4% in construction.? With GDP falling 0.1% between July and September, the United Kingdom aligns itself with the euro zone, which also suffered a similar contraction in the third quarter, with both economies moving away from the 1.2% expansion in the United States.

Likewise, facing the fourth quarter, in the month of October the United Kingdom’s GDP suffered a contraction of 0.3%, while compared to October last year, the second largest European economy grew by 0.3%.