The ride down may be shallow or steep, but either way, the European Union and Britain could be starting to slide into recession.The British economy shrank by 0.2 percent over July, August and September compared to the previous three months, the Office for National Statistics reported on Friday. It is a decline that is expected to continue and spread to the continent by the end of the year.Many countries are likely to enter a recession in last three months of 2022, Paolo Gentiloni, the European Union’s commissioner for the economy, said on Friday. “The E.U. economy is at a turning point,” Mr. Gentiloni said. “Recent survey data points to a contraction for the winter.”But while central bankers in Britain have warned of a “prolong …
