Economy

UK economic slowdown in third quarter confirmed – ONS

The UK economy grew by an unrevised 0.1% between July and September while expansion was weaker than first thought in the second quarter, according to official figures.

The Office for National Statistics (ONS) confirmed growth slowed in the third quarter after the cyber attack at Jaguar Land Rover knocked activity in the manufacturing sector.

But output was also worse than first thought in the previous three months, with gross domestic product (GDP) expanding by 0.2% in the three months to June, revised down from the previous estimate of 0.3% growth.

The ONS also revised up growth for the final quarter of last year, to 0.3% from 0.2% previously recorded, although the out-turn for 2024 as a whole was left unchanged at 1.1% growth.

Liz McKeown, ONS director of economic statistics, said: “Today’s updated figures paint the same picture as our initial estimate, with growth continuing to slow in the third quarter.

“Growth in services were partially offset by falls in production, with a marked drop in car manufacturing.”

Despite the second quarter revision, the UK economy remained the joint fastest growing economy in the G7 group of countries, alongside Japan, with growth of 0.9%, followed by the US.

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  • Source of information and images “independent”

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