Urgent - Economic growth data in Britain is negative and below expectations.

The Office for National Statistics in Britain issued GDP growth data for the country for September and the third quarter of the year this Friday morning, which came out very negatively and below market expectations. In this regard, official data showed that the British economy recorded a contraction in real GDP in September for the first time this year, with an economic growth rate of -0.1%. Meanwhile, markets had anticipated growth of about 0.2%, noting that the rate had recorded a growth of 0.2% in August. It is worth mentioning that this indicator measures the change in the inflation-adjusted value of all goods and services produced by the British economy, and this indicator is significant as it is considered the broadest measure of economic activity and the primary gauge of the health of the economy. As for the third quarter of this year, preliminary official statistics showed that real GDP in Britain grew by 0.1% compared to the second quarter, which was less than the expectations that indicated GDP growth of about 0.2%. The British economic growth was around 0.6% in the second quarter, which was revised to a growth of 0.5%. On a yearly basis, real GDP in Britain recorded growth at the same pace that markets expected, reaching 1% by the end of the third quarter. Britain had recorded a growth of 0.7% in the second quarter. This coincided with a contraction in manufacturing output within Britain by 0.5% at the end of September, which contradicted market expectations that predicted a growth in manufacturing output of about 0.1%, after the index increased by 0.5% in August.