The previous quarter from April to June had shown a 0.2% contraction in U.K. economic activity.
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The British economy has avoided slipping into a technical recession, after official data Monday, showed the third-quarter gross domestic product at 0.3%.On a month-to-month measure, September GDP alone marked a 0.1% contraction. There was very little initial reaction in the pound-versus-dollar trade. Just prior to the decision, sterling was trading at $1.2804 and this dipped to $1.2797 after the data drop.
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