UK economic growth slows ahead of autumn Budget after JLR cyber attack and shutdown

UK Economic Growth Slows to 0.1% After Sharp Drop in Car Production Linked to JLR Cyber-Attack

UK economic growth slowed to 0.1% in the July-to-September period, falling short of the 0.2% expected by analysts, according to figures from the Office for National Statistics (ONS). The slowdown comes less than two weeks before Chancellor Rachel Reeves delivers a Budget in which tax increases are widely anticipated. Reeves has repeatedly identified growth as her top priority. The ONS reported a “marked” fall in car production in September follo…

September Trade Slump Rounds Off Weak Q3

Commenting on the latest ONS trade data, BCC Head of Trade Policy, William Bain, said: September was a poor month for UK trade. Goods exports fell to the US, EU and the rest of the world. The impacts of the JLR cyber-attack were clearly felt in a slump in automotive exports to the US, but other export sectors also declined. It is also a concern that services exports took a hit too.

UK Economic Slowdown Intensifies Recession Fears Before Budget

News Ghana, Latest Updates and Breaking News of Ghana, Roger A. Agana, https://www.newsghana.com.gh/uk-economic-slowdown-intensifies-recession-fears-before-budget/Britain faces mounting recession concerns as new data reveals weak growth and rising unemployment ahead of its autumn budget. Nigel Green, chief executive officer (CEO) of the deVere Group, issued this warning. Official figures show the United Kingdom (UK) economy grew just 0.1% last q…

Confidence in the UK economy among plumbing and heating firms drops, with 64% pessimistic as they await Autumn budget - Energy Sustainability Solutions

Confidence collapses to an all time low as plumbing and heating firms brace for Autumn Budget. Only 6% indicated optimism about the UK’s economic outlook, while pessimism has climbed to 64%, compared with 49% in Q2 and 46% a year ago. The sharp deterioration comes just weeks before the Autumn Budget, with firms calling for clear signals from government on business investment, support for skills and action to ease the cost of living. These are th…

UK growth slows to 0.1% as car production slump drags economy ahead of budget

UK economic growth slowed sharply in the third quarter, rising just 0.1% between July and September, as a steep fall in car production and subdued consumer spending weighed on activity ahead of the Chancellor’s Budget later this month. The figure, published by the Office for National Statistics, came in below analysts’ expectations of 0.2% and marks a clear slowdown from the 0.3% growth recorded between April and June and the 0.7% expansion at t…

UK economy slows to 0.1% in third quarter

The UK’s economic growth slowed to 0.1% in the third quarter, falling short of expectations from City analysts and the Bank of England (BoE). The Office for National Statistics said monthly output slipped 0.1% in September, with earlier figures for July and August revised down. The data arrives ahead of chancellor Rachel Reeves’s budget on 26 November. Reeves said the budget “will take the fair decisions to build a strong economy that helps us t…