UK Q3 GDP Growth Confirmed at 0.1%, Q2 Revised Down

The Office for National Statistics reported on Monday that the UK economy expanded by 0.1 percent in the third quarter of this year, from July to September, matching its initial estimate. This sluggish growth followed a downward revision to second-quarter expansion, now estimated at 0.2 percent, down from the previously reported 0.3 percent.

The revised figures indicate a broader slowdown in economic activity. Output in the services sector provided some support, but this was offset by declines in production, particularly a sharp drop in car manufacturing. Officials attributed much of the weakness to a cyber attack on Jaguar Land Rover in September, which halted production and rippled through supply chains, affecting an estimated 5,000 organizations nationwide and costing the economy around 1.9 billion pounds.

Liz McKeown, director of economic statistics at the Office for National Statistics, stated, "Today's updated figures paint the same picture as our initial estimate, with growth continuing to slow in the third quarter. Growth in services was partially offset by falls in production, with a marked drop in car manufacturing."

On a yearly basis, gross domestic product stood 1.3...