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UK Economy Stagnant In Third Quarter In Fresh Setback
The United Kingdom's economy is stagnant, facing inflation and policy pressures. What is the outlook for recovery before 2025?
The revised data released by the Office for National Statistics (ONS) on December 23 shows that the United Kingdom's economy did not achieve growth in the three months up to September. Previously, last month the ONS released preliminary estimates stating that the United Kingdom's GDP had grown by 0.1% in the third quarter. However, the final data published on December 23 indicates that the GDP growth in the third quarter was 0% quarter-on-quarter. As of December 23, Monday, the current trading price of the British Pound against the US Dollar is approximately 1.2570. This set of data released by the ONS brings another blow to the United Kingdom's economy, following a series of weak data that weakened market confidence and affected the newly elected Labour government's performance.