UK Economic Growth Ground to a Halt in 2nd-Q

British economic growth ground to a halt between April and June, ending over 15 years of continuous expansion, the government said recently, as many fear the country is headed for recession. The growth figure of 0.0% is below even the modest 0.2% the Office for National Statistics had predicted. It ends a run of 63 consecutive quarters, nearly 16 years, of growth since the 2nd-Q of 1992, when Britain's GDP shrank. The figures are the strongest indicator yet, amid a crashing housing market, falling consumer confidence and inflation running at double government targets, that Britain is teetering on the brink of a recession. Economists say preliminary data shows the economy is performing even worse now than it did in the 2nd-Q, meaning GDP shrinkage will likely be recorded in upcoming 3rd-Q. Two quarters of contraction is one common definition of a recession. In the midst of the worst housing crash for 30 years, Britain's construction industry has been hit the hardest, the national statistics office said, with construction output falling 1.1%. Meanwhile, manufacturing output fell by 0.8%, according to government figures. That confirms a survey the Chartered Institute of Purchasing & Supply published earlier this month showing that the Britain's manufacturing activity declined by the most in almost a decade in July.