UK Economy Expands by a Mere 0.1% in Q3, Gloomy Outlook Ahead

economyUK politicsGDPRachel ReevesMel Stride

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UK Economy Expands by a Mere 0.1% in Q3, Gloomy Outlook Ahead
The UK economy grew by a disappointing 0.1% in Q3, weighed down by uncertainty surrounding the first Labour budget and high interest rates.*

Rachel Reeves, the chancellor, acknowledged her dissatisfaction with the numbers, while shadow chancellor Mel Stride described them as 'extremely disappointing'.*

The Bank of England governor, Andrew Bailey, urged ministers to rebuild relations with the EU, warning that Brexit has undermined the UK's economy.*

Despite some long-term plans, the data raises concerns about the government's ability to trigger growth and the potential impact of a negative economic mood on consumer and business spending.*

economy
UK politics
GDP
Rachel Reeves
Mel Stride

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