Flatlining GDP in the UK

The United Kingdom's gross domestic product (GDP) remained unchanged in the third quarter of 2024, according to a recent report by the Office for National Statistics. Initially, a growth of 0.1% was projected, but this estimate was revised downward to reflect a stagnant economy.

Sectoral Analysis

Within the July to September period, the services sector showed no growth. Conversely, the construction sector experienced a 0.7% rise, which was offset by a 0.4% decline in production.

Year-on-Year Comparison

When compared to the same quarter in 2023, the UK's economy demonstrated a 0.9% increase. More detailed insights are expected in forthcoming reports.