By CRIMSON TAZVINZWA///
The UK has avoided falling into recession, with the economy growing 0.3% in the third quarter of the year. The Office for National Statistics said the increase was largely thanks to the services and construction industries. It’s not all positive news, though – the stats show the economy’s growth has slowed to its lowest rate in almost a decade. While car production experienced an uptick in the three months to September, there were widespread falls in other areas of manufacturing, leaving overall output flat.
Analysts say there’s an ‘alarming loss of momentum’ in the UK economy hidden beneath the seemingly positive news that Britain’s avoided recession. Chancellor Javid called the 0.3% growth ‘solid’ but that’s probably raising a few eyebrows – it’s below forecasts, potentially propped up by Brexit stockpiling and annual growth is at its slowest in almost a decade – Tom Belger, Yahoo Finance UK