Britain's economy flatlined in the third quarter, revised figures show

The U.K.’s Office for National Statistics reported that Britain’s economy saw 0% growth in the third quarter of 2024, down from a preliminary estimate of 0.1%. This data, along with recent weak economic figures and concerns over the Labour government’s fiscal strategy, has led to questions about the country’s economic outlook. The Bank of England held interest rates steady at 4.75%, despite expectations of a rate cut, as inflation rose to 2.6% in November following the government’s announcement of a £40 billion tax increase in its first budget.

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