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

Air India Cancels Flight To And From Dubai Amid Incessant Rainfall

New Delhi: Amidst ongoing operational disruptions caused by incessant...

2024 Lok Sabha Polls: First Phase Voting In 21 States Underway; 49.78% Voter Turnout Till 3pm | Top Updates

New Delhi: The much-anticipated Lok Sabha elections for 2024,...

India Delivers BrahMos Supersonic Cruise Missiles To Philippines

New Delhi: India has successfully delivered BrahMos supersonic cruise...