UK Labour grows 'zero' in first quarter of power... "Weak economy in second and third quarter"

Economic growth hit "zero" in the third quarter of this year, the first quarter of Britain's Labour government launched with economic recovery as a top priority, data showed.

Britain's Office for National Statistics said today (23rd) it had cut its third-quarter GDP growth to 0.0%, lower than its initial estimate of 0.1% last month.

The Office for National Statistics also revised growth for the second quarter to 0.4%, up from a previous estimate of 0.5%.

The NSO said the economy was weaker than expected in the second and third quarters of this year, explaining that the restaurant industry, law firms and advertising businesses were particularly sluggish.

Earlier on the 19th, the Bank of England (BOE), the central bank of England, also revised its economic growth forecast for the fourth quarter of this year to 0.0% from 0.3%.

Starmer's government has pledged to generate sustainable long-term growth through its budget and reform plans, but even the third quarter showed zero growth, and Britain's economy is expected to remain stagnant for two consecutive quarters in the second half of this year.