UK economy stagnant in third quarter in fresh setback

Britain’s economy stagnated in the third quarter, showing zero growth, revised down from an initial 0.1% estimate. This slowdown, preceding the Labour government’s October budget, is attributed to higher interest rates, weaker overseas demand, and concerns over the budget’s tax rises and increased borrowing plans. Britain’s economy stagnated in the third quarter, showing zero growth, revised down from an initial 0.1% estimate. This slowdown, preceding the Labour government’s October budget, is attributed to higher interest rates, weaker overseas demand, and concerns over the budget’s tax rises and increased borrowing plans.  Economic Times