Official figures show that the economy grew by 0.1% in the third quarter, indicating a slowdown in the UK’s economic performance. The Office for National Statistics reported a surprise contraction in economic output in September, partly due to disruptions caused by a cyber attack at Jaguar Land Rover. The growth rate of 0.1% in the third quarter follows a 0.3% growth in the previous three months and a 0.7% expansion in the first quarter of the year. The slowdown in economic growth has been attributed to factors such as trade war tensions and budget measures that increased taxes for employers, leading to inflation and negative impacts on investment and employment. Manufacturing was highlighted as a key driver of the weakness in production during the quarter. Official figures reveal that the economy expanded by 0.1% in the third quarter, according to a report on Money News.

The UK’s economy experienced a slowdown during the third quarter of the year, with growth estimated at just 0.1%. This news is concerning for the chancellor as it marks a significant deceleration in economic activity.

The Office for National Statistics (ONS) reported a surprise contraction in economic output of -0.1% for the month of September, with disruptions from a cyber attack at Jaguar Land Rover contributing to the decline.

This growth figure follows a 0.3% increase in the previous three months and a 0.7% expansion in the first quarter of the year.

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The positive start to the year was overshadowed by challenges such as Donald Trump’s trade war and budget measures that increased taxes for employers by £25 billion.

Economists attribute these factors to rising inflation and negative impacts on investment and employment.

Liz McKeown, ONS director of economic statistics, commented on the slowdown in growth during the third quarter, noting weaknesses in services, construction, and production sectors.

«Manufacturing was a key driver of the decline in production over the quarter,» McKeown added. Please rewrite this sentence. Can you please rewrite this sentence? Please rewrite this sentence. Please rewrite this sentence.

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