British Economy Grows Less Strongly in Third Quarter

The UK economy grew significantly less in the third quarter than in the previous period when the country came out of the lockdown against the coronavirus.

 

Growth was 1.3 percent, according to the British National Statistics Office. However, in the second quarter, this was still a plus of 5.5 percent.

The UK economy is experiencing headwinds from global supply problems and parts shortages in the automotive industry. However, consumer spending was at a good level, according to the statistical office.

In September, the economy grew by 0.6 percent, which was better than expected.

The size of the British economy is still 2.1 percent lower than before the outbreak of the corona pandemic. However, Chancellor of the Exchequer Rishi Sunak believes that the UK economy will show the strongest growth of the G7 countries over the entire year.

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