UK economy flatlines, with business leaders fearing the worst The UK economy flatlined in the third quarter of 2024, according to latest figures, showing no growth between July and September.
But the measurement most people focus on is the percentage change – the growth of the country’s economy over a period of time, typically a quarter or a year.
The announcement on Monday is a retraction, as statisticians had previously estimated the economy would show 0.1 per cent growth for the quarter.
Ms Reeves said in response: “The budget and our plan for change will deliver sustainable long-term growth, putting more money in people’s pockets through increased investment and relentless reform.”.
The Office for National Statistics (ONS) also revised down its growth reading for the second quarter of 2024, to 0.4 per cent.
