UK GDP stalls between July and September
Higher interest rates ‘slowing down the pace of activity’
Higher interest rates ‘slowing down the pace of activity’
A modest 0.2% rise in GDP was reported
The slide was much greater than forecasts of 0.2%
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The economy contracted by 0.1% in May
Industry commentators remain unconvinced by October’s 0.5% rise
As risk of a recession later in the year looms large
Last week OECD slashed its UK growth forecast for 2023 to zero
GDP falls short of analyst expectations in February, fuelling fears of Q2 contraction
The OBR now expects the economy to grow at 3.8% in 2022
‘While the output we saw in July was disappointing, we have to remember that GDP is always backward looking’