UK economy flatlines over summer with GDP unchanged in the last quarter
Britain’s economy achieved no growth between July to September compared to the previous three months, according to the latest official figures published this morning.
Economists had been expecting the UK’s economy to contract over the period, by about 0.1%.
Instead, a stronger than forecast September meant the economy showed zero growth, according to the Office for National Statistics. (ONS)
Last week, the Bank of England said the UK economy was likely to see zero growth until 2025, although it is expected to avoid a recession.
The ONS said the latest growth figures indicated a subdued picture across all sectors. It notes the services sector experienced a small decline over the three-month period, while the manufacturing sector saw slight growth.
Last week, the Bank of England forecast Britain’s economy was likely to show zero growth until 2025, although it is expected to steer clear of recession.