Urgent.. The UK economy fails to achieve growth in the third quarter!

The UK National Statistics Office released on Monday morning the final data for the country’s GDP growth rate for the third quarterly period of this year, which came in extremely negative and below market expectations.

In this regard, the official final statistics showed that the UK failed to achieve growth in the third quarter, falling short of expectations that predicted economic growth of about 0.1%. This was also worse compared to the previous reading, which showed a 0.4% growth in the British economy that was revised down to 0.1%.

On a quarterly basis, the real GDP in the UK increased by 0.9% compared to the same period last year, which was lower than the initial data and market expectations that indicated growth of around 1%; after the British economic growth was about 0.5% in the second quarter of the year.

It is worth noting that this indicator measures the change in the inflation-adjusted value of all goods and services produced by the UK economy. This indicator is significant as it serves as the broadest measure of economic activity and the primary gauge of economic health.