The UK economy had zero growth between July and September, revised official figures show.
Initial figures had suggested the economy had grown by just 0.1% between July and September – and shrank during September itself. But that figure has now been revised down to 0%.
Chancellor Rachel Reeves said the challenge to fix the economy was “huge” and October’s Budget would “deliver sustainable long-term growth, putting more money in people’s pockets”.
But one of the UK’s leading business groups, the CBI said its latest company survey suggested “the economy is headed for the worst of all worlds”.
The CBI, which claims to represent 170,000 firms, said companies expect to “reduce both output and hiring” and raise prices as a result of the tax rises announced in the government’s Budget.
The UK economy is measured by gross domestic product – a measure of all the economic activity of companies, governments and people in the country.
The ONS puts out initial estimates on the UK’s economic performance and revises them once it receives more data.
On Monday it also revised down growth figures for April to June to 0.4% from 0.5%.
It said the economy was weaker than initially estimated as bars and restaurants, legal firms and advertising firms performed less well.
