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Here’s a chart showing how the UK economy fared over the last quarter – shrinking in the second half of last year, before returning to growth in 2024:
ONS Director of Economic Statistics Liz McKeown says:
“The economy grew a little in the latest quarter overall as the recent slowdown in growth continued. Retail and new construction work both performed well, partially offset by falls in telecommunications and wholesale. Generally, growth was subdued across most industries in the latest quarter.
“In September the economy shrank a little. Services showed no growth with a notable increase in car sales offset by a slow month for IT companies. Production fell overall, driven by manufacturing, though there was an increase in oil and gas extraction.”