'Challenge' for Reeves

CHANCELLOR Rachel Reeves has described the "challenge" of fixing the economy as "huge", after revised official figures showed that the UK economy flatlined in the third quarter of the year.

The Office for National Statistics (ONS) confirmed yesterday that UK gross domestic product (GDP) showed no growth between July and September this year. In response, the Conservatives have claimed that "growth has tanked" on the Labour Government's "watch", and said that the economy is becoming "more vulnerable".

Statisticians, who had previously estimated 0.1% growth for the quarter, partly blamed the reduction on fresh survey data showing weaker trading for bars and restaurants.

The ONS also revised down its growth reading for the second quarter of 2024, to 0.4%. In September, it said it thought GDP had increased by 0.5%, which was itself a reduction on previous estimates.