"The UK economy expanded by 0.1% in the quarter from July to September, despite a hit to manufacturing in the final month from a crippling cyber-attack on Jaguar Land Rover. The latest official figures, issued as Rachel Reeves prepares for a crunch budget on 26 November, show GDP fell by 0.1% in September as car production was dragged down to a 73-year low by the fallout from the hack."
"Markets had forecast a 0.2% expansion in the third quarter down from 0.3% in the previous three months and flatlining growth in September. The Office for National Statistics data follows news that unemployment has risen to 5%, the highest rate for four years. The chancellor is widely expected to raise taxes in her second budget later this month, to offset a forecast downgrade from the independent Office for Budget Responsibility."
UK GDP expanded by 0.1% in the quarter from July to September. GDP fell by 0.1% in September as car production plunged to a 73-year low after a crippling cyber-attack on Jaguar Land Rover. Markets had forecast a 0.2% expansion in the third quarter, down from 0.3% in the previous quarter and forecasting flat growth in September. Unemployment rose to 5%, the highest rate in four years. The chancellor is widely expected to raise taxes in a second budget later this month to offset a forecast downgrade from the Office for Budget Responsibility. Each of us must do our bit for the security of our country and the brightness of its future.
Read at www.theguardian.com
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