Britain's GDP Growth Falls 0.1 Pct Between Aug., Oct. - Data

(MENAFN- Kuwait News Agency (KUNA)) LONDON, Dec 12 (KUNA) -- Official data on Friday showed Britain's gross domestic product (GDP) contracted by 0.1 percent between August and October.
A report by the Office for National Statistics (ONS) said economic output was flat in August, before shrinking unexpectedly by 0.1 percent in both September and October.
The ONS attributed the weak growth mainly to the services sector, which accounts for nearly 80 percent of the economy, after it recorded no growth during the period despite having expanded steadily since January 2024.
The report said the production sector contracted by 0.5 percent between August and October, marking its sixth consecutive quarterly decline, while manufacturing output fell by 0.7 percent.
Growth in the construction sector also slowed by 0.3 percent, it added.
The ONS noted that a major cyberattack on carmaker Jaguar Land Rover in August, which halted production for about 10 days, had a significant negative impact across several sectors.
It said the disruption affected a wide range of related industries, including rubber, textiles, plastics, basic metals and manufactured products, with knock-on effects on retail sales, particularly of cars and software.
The report added that surveys showed many firms in the services, construction and production sectors delayed key decisions during the period while awaiting details of the governmentآ's budget announced on November 26. (end) mrn

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