UK economy grew by 0.1% in third quarter of 2024, says ONS

3 comments

1. Not great

2. Better than a kick in the balls. Or Germany 🇩🇪 and France 🇫🇷 who have stagnate growth.

3. > The UK economy grew by 0.1% in the third quarter of 2024, down from 0.5% in the second quarter, according to the ONS. The slowdown, attributed to high interest rates and uncertainty before the budget, saw declines in manufacturing and IT offset by higher car sales. GDP fell 0.1% in September, missing forecasts for 0.2% growth. Chancellor Rachel Reeves defended her budget measures, aiming for long-term growth and stability, despite criticism over planned increases to employer national insurance contributions. Business groups reported delayed decision-making due to budget concerns, while the Bank of England’s recent rate cuts to 4.75% are unlikely to significantly alter the economic outlook. Analysts predict modest growth ahead, despite increased downside risks.

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