Blow to Rachel Reeves as first quarter under Labour shows services and manufacturing struggled in run-up to budgetBusiness live – latest updatesThe UK economy slowed to a near-standstill in the third quarter as uncertainty surrounding Labour’s first budget and high interest rates weighed on business and consumer spending.In a blow to the chancellor, Rachel Reeves, as she attempts push the UK to the top of the G7 growth league, the economy grew by 0.1% in the third quarter of the year, down from 0.5% in the second quarter, according to figures from the Office for National Statistics (ONS). Continue reading…
Source link : https://www.theguardian.com/business/2024/nov/15/uk-economy-third-quarter-2024-ons-labour
Author : Phillip Inman
Publish date : 2024-11-15 08:33:10
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UK economic growth slows to 0.1% as budget jitters and high interest rates take toll
