finance

Stagnation chokes UK economy as Britain records zero growth in latest quarter


The UK economy has shown no growth in the third quarter but surpassed the expectations of economists, according to official figures.

Gross domestic product (GDP) – which measures the value of goods and services produced – also showed no growth in the three months from July to September, the Office for National Statistics said.

It came as the statistics body also reported 0.2 percent  growth in the economy for the month of September, amid a boost from the film production, health and education industries.

Analysts had predicted a 0.2 percent  fall for the quarter and a flat reading for September.

Darren Morgan,  ONS director of economic statistics said: “The economy is estimated to have shown no growth in the third quarter.

“Services dropped a little with falls in health, management consultancy and commercial property rentals.

“These were partially offset by growth in engineering, car sales and machinery leasing.”



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