Inflation (Economics) – Page 94

U.K. Economy Shrinks as Threat of Recession Nears

Britain’s economic output fell in the third quarter and European Union officials forecast weakening growth for countries across the continent.

Economic output fell 0.2 percent in the third quarter as the services and production industries slowed.

The president said he would not change his economic approach, adding that his policies were working.

The president took credit for signs that rapid price rises were moderating, after spending months on the defensive about his handling of the economy.

Stocks rallied and bond yields tumbled as investors reset their expectations for the pace of interest rate increases by the Federal Reserve.