The Office for National Statistics said on Monday that UK gross domestic product (GDP) showed no growth between July and September.
The Office for National Statistics said on Monday that UK gross domestic product showed no growth between July and September.
Statisticians, who had previously estimated 0.1% growth for the quarter, partly blamed the reduction on fresh survey data showing weaker trading across bars and restaurants. The figures released on Monday cover July to September, before the Chancellor’s first Budget which came at the end of October. “The Labour Government must now urgently revisit their disastrous budget and align economic policy with growth not decline. Every moment of delay is further damaging business confidence, output and employment.Kate Nicholls, chief executive of UK Hospitality, urged the Government to rethink Budget measures given the “fragile” state of the economy.
“This is our number one mission as a Government, and we start from a disappointing set of economic statistics as we end 2024.”
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