UK economy stagnates after no growth in latest quarter

UK economy stagnates after no growth in latest quarter

The UK economy stagnated over the latest quarter but surpassed the expectations of economists, according to official figures.

Gross domestic product (GDP) – which measures the value of goods and services produced – showed no growth in the three months from July to September, the Office for National Statistics said.

It came as the statistics body also reported 0.2% growth in the economy for the month of September, amid a boost from the film production, health and education industries.

Analysts had predicted a 0.2% fall for the quarter and a flat reading for September.

ONS director of economic statistics Darren Morgan said: “The economy is estimated to have shown no growth in the third quarter.

“Services dropped a little with falls in health, management consultancy and commercial property rentals.

“These were partially offset by growth in engineering, car sales and machinery leasing.”

Published: by Radio NewsHub

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