Rolling three-month GDP growth flat in UK

The UK’s rolling three-month GDP showed no growth in October 2019, after just the 0.3% growth registered in the third quarter of 2019, new ONS figures have revealed.

The data showed that the services sector was the main driver of GDP growth in the three months to October 2019, which an ONS spokesperson said was ‘offset by falls in manufacturing with factories continuing the weak performance seen since April.’

Construction was revealed to have also declined across the three months to October 2019, with a notable drop registered in house building and infrastructure in October.

The ONS calculates rolling three-month estimates by comparing GDP in a three-month period with GDP in the previous three-month period.

Commenting on the ONS data, Royal London Asset Management senior economist, Melanie Baker said: “Uncertainty, whether related to the final Brexit outcome or broader economic policy, threatens to linger no matter who wins the election.

“The message from GDP and recent business survey data is that growth in the economy is weak. Brexit uncertainty has dampened business investment over the past couple of years and broader political uncertainty may have an impact on upcoming data releases.”

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