U.K. recession likely to last until year-end, analysts say

Analysts at the National Institute of Economic and Social Research said the U.K. economy saw no growth in the third quarter, so the end of the recession cannot be declared before the end of the year. "Our monthly estimates of GDP suggest that output was unchanged in the quarter to September as compared to the second calendar quarter of the year," the institute said. "Industrial production was much weaker than we expected in August." Industrial output declined 2.5% in August, according to the Office for National Statistics.

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