UK’s economy in shambles

The UK’s economy is facing a gloomy outlook. Britain's economy looks set to go into recession as data shows it unexpectedly shrank in August.

A government report shows the country’s gross domestic product in August decreased 0.3 percent from July. Britain's economy is hit by the cost-of-living crisis and rocketing energy bills. The gloomy news comes amid market turmoil after Britain's recent debt fueled budget.