UK economic output unexpectedly shrank in September, dragging down third-quarter GDP growth and underscoring the fragile state of the economy ahead of Rachel Reeves’ tax-raising Budget this month.
GDP contracted by 0.1 per cent in September from the previous month, the Office for National Statistics said on Thursday, undershooting analyst predictions of zero per cent growth.
The slowdown, which reflected in part a production shutdown at Jaguar Land Rover triggered by a cyber attack, underscores the economic problems facing the Labour government as it seeks to bolster growth, which it says is a central mission.
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