The economy of the United Kingdom grew by only 0.1% in the third quarter, according to preliminary estimates from the Office for National Statistics.

According to preliminary estimates from the Office for National Statistics, the economy of the United Kingdom recorded a modest growth of 0.1%. Liz McKeown, ONS director, mentioned that services and construction performed weaker, and the manufacturing industry was the main factor of weakness, affected by a cyber attack on Jaguar Land Rover that halted production for five weeks. This data comes ahead of the autumn budget on November 26, where the Chancellor of the Exchequer, Rachel Reeves, may announce tax increases to cover a major budget deficit. Analysts warn that tax hikes could reduce consumption, but a possible cut in interest rates by the Bank of England in December could provide a boost to the economy.