UK Treasury chief says she’s not satisfied by paltry third-quarter economic growth

Associated Press

LONDON (AP) — The British economy’s rebound from recession slowed down sharply in the third quarter of the year with most sectors stagnating. The Office for National Statistics said Friday that growth during the July to September period was just 0.1%. That was lower than the 0.5% recorded in the previous three-month period and below market expectations for 0.2%. The statistics agency said overall output in September actually shrank, a development that is likely to fuel accusations from critics of the new Labour government that it talked the economy down in its first few weeks in power. Treasury chief Rachel Reeves said she was “not satisfied” by the figures.