Rolling coverage of the latest economic and financial news
- Latest: UK recovery slowed to 1.3% in Q3
- But growth did pick up in September
- Introduction: UK economy in spotlight
- UK plc risks long-term stagnation and rising destitution, warns top thinktank
- Elon Musk sells $5bn in Tesla stock days after Twitter poll
Britain’s services sector drove the recovery in Q3, with manufacturing and builders both struggling.
Services, which makes up about three-quarters of the economy, grew by 1.6% in Q3 — with growth slowing after a 6.5% bounceback in Q2.
The manufacture of transport equipment saw a 0.9% fall, which partly reflects a sharp decline of 8.2% in the manufacture of motor vehicles in September 2021, the largest fall since May 2021.
