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UK Economy Had Sharper-Than-Forecast Slowdown in Third Quarter
By
Tom Rees
15 November 2024 at 3:04 PM SGT
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The UK economy cooled faster than expected in the third quarter, marking a disappointing start to Prime Minister Keir Starmer’s promise to turbocharge growth.
Gross domestic product rose 0.1% compared to the previous quarter, below the 0.2% gain forecast by economists, data from the Office for National Statistics showed on Friday. The economy unexpectedly shrank 0.1% in September alone.