PA
The UK economy shrank between July and September, raising the risk of the country dipping into a recession, according to revised official figures.
Gross domestic product (GDP) fell by a revised 0.1 per cent against the zero growth initially estimated, the Office for National Statistics (ONS) said.
It also flatlined during the second quarter of the year, after prior estimates showed 0.2 per cent growth, painting a bleaker picture for the economy.
Industries including film production, engineering and design and telecommunications showed a weaker performance during the third quarter than the ONS initially thought.
Darren Morgan, director of economic statistics at the ONS, said: “The latest data from both our regular monthly business survey and VAT returns show the economy performed slightly less well in the last two quarters than our initial estimates.
“The broader picture, though, remains one of an economy that has been little changed over the last year.”
Shadow chancellor Rachel Reeves said: “Rishi Sunak failed to beat Liz Truss, he failed to cut waiting lists, he failed to stop the boats and now he has failed to grow the economy.”
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