Economy Country November 15, 2024

UK Economy Grows by 0.1% in Q3

The Office for National Statistics announced on Friday that the British economy expanded by 0.1% in the third quarter of the year, indicating a slight recovery amidst ongoing challenges.


The UK economy grew by 0.1% in the third quarter of the year, according to the Office for National Statistics on Friday, as it continues to recover from the economic fallout of the COVID-19 pandemic.

With a new wave of coronavirus infections and ongoing economic challenges, the UK economy saw this slight growth in the third quarter after contracting by 19.8% in the second quarter.

The office clarified that the economic performance improvement resulted from lifting restrictions imposed to curb the virus's spread and the return of some sectors to activity.

Commenting on these results, an economic expert said: "This slight growth reflects a noticeable improvement compared to the second quarter, but the challenges remain significant for the UK economy, especially with the complications of the pandemic crisis at the current time."