Boots & Sabers

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Owen

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1906, 10 Nov 23

UK Economy Stagnates

Ouch

The UK economy failed to grow between July and September, figures show, after a succession of interest rate rises.

The chancellor said higher rates were hitting growth, but added that the economy had performed better than expected this year.

 

Forecasters suggest the economy is set to be stagnant for several months yet.

Last week, the Bank of England said the UK was likely to see zero growth until 2025, although it is expected to avoid a recession.

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1906, 10 November 2023

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