UK economy unexpectedly shrinks for first time since 2012

On downtrend: People walk past a currency exchange outlet in London. The pound has slid almost 7% since the UK deferred the original end-March Brexit deadline. — Reuters

LONDON: The UK economy shrank for the first time in more than six years in the second quarter, delivering a blow to newly installed Prime Minister Boris Johnson.

Gross domestic product fell 0.2% following a solid 0.5% advance in the previous three months, the Office for National Statistics said on Friday. Economists had expected output to be unchanged.