US EditionUK economy slowed to show 0.1% growth in third quarter, ONS says
Growth slowed as production fell, notably car manufacturing after a cyberattack, while household income dropped by 0.8% due to a £6 billion tax rise, ONS said.
- Britain's economy grew by 0.1% in the July-to-September quarter, unchanged from the initial estimate, while GDP was 1.3% higher than a year ago.
- Britain's current account deficit for the three months to September was £12.1 billion, lower than the forecast of £21.1 billion and equivalent to 1.6% of GDP.
- Growth has been on a downward path since the beginning of the year, with household income falling sharply by 0.8%, driven by a £6 billion increase in taxes.
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Evening Standard
The Independent (US)UK economic slowdown in third quarter confirmed – ONS
The ONS said growth slowed to 0.1% in the third quarter from a downwardly revised 0.2% in the three months to June.
UK consumers feel the pinch from tax increases as economy slows
British households saved less in the July-to-September period of this year as they felt the hit from higher taxes but still increased their spending, according to official data which confirmed a slowdown in the broader economy.
Times of India
UK economy slowed to show 0.1% growth in third quarter, ONS says
In the July to September quarter, Britain's economy experienced a slight increase of 0.1%, consistent with earlier forecasts. However, previous growth rates were adjusted downward. Looking ahead, the Bank of England predicts stagnation in GDP growth for the upcoming October to December period, although a marginal underlying economic growth of approximately 0.2% each quarter is anticipated.
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