Jaguar Land Rover’s cyber attack stalls UK economy
The UK economy went into reverse in September, caused by the cyber attack on Jaguar Land Rover and its subsequent shutdown.
The weak GDP figures will further increase the likelihood of the Bank of England cutting interest rates in December.
New data from the Office for National Statistics (ONS) estimates a 0.1% drop in GDP. It also revised down the August figure, from 0.1% to 0% growth.
This resulted in the third quarter showing just 0.1% growth, down from 0.7% in January-March. G7 economies Germany, Italy and Canada have eac... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...
