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UK economic growth slows to 0.5% in Q3

by ChemOrbis Editorial Team -
  • 28/10/2015 (09:48)
According to data from the Office for National Statistics (ONS), the UK’s economic growth slowed to 0.5% in the third quarter after growing 0.7% in the previous quarter. The country’s Q3 economic growth also missed Bloomberg economists’ expectations, which called for a growth rate of 0.6% for the quarter.

The deceleration in the economy was led by weaker manufacturing and construction. The data showed that manufacturing growth contracted for the third consecutive quarter while construction posted the largest contraction seen since 2012 in the July- September period. However, services sector growth accelerated on the back of stronger business services and finance.
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