Particle.news
Download on the App Store
23 ARTICLES
·
51m ago

UK Growth Slows to 0.1% in Q3 as JLR Cyber Attack Hits Output

The weaker readings have strengthened expectations of a December Bank of England rate cut.

Image
Image
Image
Image

Overview

  • The ONS said GDP rose 0.1% in July–September, missing forecasts of 0.2%, after a 0.3% gain in Q2.
  • Output fell 0.1% in September and August was revised to zero growth, signaling the slowdown predated the late‑quarter disruption.
  • Production weakened sharply as motor vehicle manufacturing plunged 28.6% in September after the Jaguar Land Rover cyber incident.
  • Services edged up 0.2% in the quarter and construction rose 0.1%, while production contracted 0.5%, according to the ONS.
  • The data follow an unemployment rise to 5.0% this week and intensify pressure on Chancellor Rachel Reeves ahead of the 26 November Budget, with ONS figures cited by economists as making a near‑term rate cut more likely.