British economy flatlines in third quarter of the year, update shows ahead of budget statement
FILE - Christmas lights are displayed on Regent Street in London on Nov. 24, 2022. The British economy flatlined in the third quarter of the year, official figures showed Friday, Nov. 10, 2023, ahead of a budget statement from the government later this month. (AP Photo/Kin Cheung, File)
LONDON (AP) — The British economy flatlined in the third quarter of the year, official figures showed Friday ahead of a budget statement from the government later this month that it hopes will bolster growth in the run-up to national elections.
The Office for National Statistics said growth in the July-to-September period was zero compared to the previous three months. All sectors, such as manufacturing and construction, broadly showed the same subdued picture.
Despite the uninspiring headline figure, the quarterly outcome was slightly ahead of analysts' expectations for a modest decline in output.
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