Placeholder canvas

Britain 3rd quarter growth estimate cut to 0.4%

Date:

Revised figures show Britain’s economy grew more slowly in the third quarter than previously estimated.

Gross domestic product (GDP) expanded by 0.4 percent in the July-September period, down from previous estimates of 0.5-percent growth, the Office for National Statistics said in a statement.

The data also revealed a slowdown compared with the second quarter, which came in also weaker than expected after a revision downward.

Analysts had forecast a revision higher in third-quarter GDP to 0.6 percent following some robust pre-Christmas retail sales data.

But a Treasury spokesman said in a statement Wednesday that the latest growth figures “highlight that risks remain” to the British economy despite it growing favourably compared to its eurozone neighbours.

GDP for the second quarter was meanwhile revised down to 0.5 percent from 0.7 percent, the ONS added.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Share post:

Subscribe

Popular

More like this
Related

Fact Check: Image of Bridge In China Falsely Shared As That From Mumbai

A photo of a bridge spanning a body of...

Fact Check: 2018 Video From Saudi Viral As Camels Stuck In Dubai Flood

A video of camels being swept away in water...

Fact check: Old Pictures Of PM Modi At Sant Kabir Das Mausoleum Shared As Recent

Amid the ongoing general elections in India, a few...

US Announces Historic $6Billion Military Aid For Ukraine

This security assistance package from the US will address Ukraine's ongoing battlefield needs and demonstrate unwavering US support for Ukraine