UK Economy Stalls with 0.1% Growth in Labour's First Quarter

Chancellor Rachel Reeves expresses dissatisfaction as GDP figures fall short of expectations, highlighting challenges ahead.

• The UK economy grew by just 0.1% in the third quarter, down from 0.5% in the previous quarter, according to the Office for National Statistics.
• Chancellor Rachel Reeves has acknowledged the disappointing figures, emphasizing her commitment to improving economic growth through investment and reform.
• Shadow Chancellor Mel Stride criticized the Labour government, attributing the economic slowdown to recent policy decisions and tax increases.
• The Bank of England Governor Andrew Bailey warned that Brexit continues to weigh on the UK economy, urging renewed efforts to strengthen EU relations.
• The services sector showed minimal growth, while manufacturing and IT services experienced declines, contributing to the overall economic stagnation.

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