UK economic slowdown is confirmed by new official figures

The UK system grew by conscionable 0.1% successful the 3rd 4th of this year, weaker than the 0.2% maturation successful GDP for the erstwhile 3 months, caller authoritative figures reveal.

The 0.2% figure, for April to June, was itself revised down by the Office for National Statistics (ONS), from its earlier estimation for the play of 0.3 per cent.

The cyberattack connected Jaguar Land Rover, which halted accumulation for weeks, appears to person played a portion successful the July to September slowdown.

"Today's updated figures overgarment the aforesaid representation arsenic our archetypal estimate, with maturation continuing to dilatory successful the 3rd quarter," said Liz McKeown, ONS manager of economical statistics.

"Growth successful services were partially offset by falls successful production, with a marked driblet successful car manufacturing."

In an indicator of the unit connected people's finances, Britons besides saved little betwixt July and September.

The household redeeming ratio fell 0.7 percent points to 9.5% - the lowest successful a year; and determination was besides an 0.8% dip successful household disposable income per head, pursuing nary alteration successful the erstwhile quarter.

The Bank of England trimmed involvement rates to 3.75% past week successful a bid to assistance boost the economy.

It said it expected zero GDP maturation successful the existent October-to-December play but that the underlying gait of economical maturation was astir 0.2% per quarter.

GDP is an important indicator for the system arsenic it measures the full worth of each goods made and services provided. Rising GDP means the system is growing.

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Britain had had the champion maturation figures among the ​Group of Seven ample precocious economies successful the archetypal fractional of this year, alongside Japan.

However, the maturation has slowed importantly since then. Critics person enactment this down successful portion to long-running uncertainty astir taxation increases successful the tally up to the chancellor's fund past month.

The ONS revised its 2024 fourth-quarter estimation up 0.1 percent points to 0.3%.

Revisions are often made erstwhile much elaborate accusation and information go available.

The ONS said GDP successful the 3rd 4th (July to September) was estimated to beryllium 1.3% higher than the aforesaid play past year. Meanwhile, GDP for 2024 arsenic a full accrued by 1.1%.