MNI BRIEF: UK Q3 GDP Growth Revised Lower
MNI (LONDON) - UK GDP) sawno growth in Q3 (July to Sept) 2024, as it was revised down from the first estimate increase of 0.1%, the Office for National Statistics said Monday.
The quarterly path of real GDP at an aggregate level is unchanged from Q1 2023 to Q1 2024, however, there have been downward revisions of 0.1 percentage points in Q2 and Q3 2024.
“The economy was weaker in the 2nd and 3rd quarters of this year than our initial estimates suggested with bars and restaurants, legal firms and advertising, in particular, performing less well," ONS Director of Economic Statistics Liz McKeown said.
“The household saving ratio fell a little in the latest period, though remains relatively high by historic standards. Meanwhile real household disposable income per head showed no growth.”