Economy flatlines as quarterly GDP cut to 0%

Revised quarter three GDP figures make for grim reading as ONS slashes growth figure to 0% from earlier slightly more upbeat 0.1%

This was bad news for the new government as the downward revision affects Labour’s first three months in power from July to September meaning there was no growth in GDP.

This forced the Chancellor, Rachel Reeves to describe fixing the economy as a ‘huge’ task.

Originally the economy was estimated to have grown 0.1% in Q3, however, this has now been shown to have not grown at all, a disappointing outcome after 0.5% of growth in the quarter before Labour came into power.

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