MADRID, 10 Nov. (EUROPA PRESS) -
The United Kingdom economy, the second largest in the Old Continent, did not experience any growth between July and September compared to the previous three months as a result mainly of the contraction of activity in services, the Office for National Statistics (ONS) has reported. .
According to the first reading of the data, British gross domestic product (GDP) stagnated in the third quarter, after expanding 0.2% in the previous three months. Compared to the third quarter of 2022, the economy grew by 0.6%.
In monthly data, GDP is estimated to have increased by 0.2% in September 2023, following growth of 0.1% in August (revised downward from 0.2%) and a fall of 0.6% in July 2023.
In this way, the United Kingdom's GDP performed somewhat better in the third quarter than in the euro zone, where it contracted by 0.1%, but was far from the 1.2% expansion of the United States.
Between July and September, the UK services sector saw a contraction of 0.1%, down from stagnation in the second quarter, while construction slowed its expansion to 0.1% from 0.3% and industry stagnated. , after having grown 1.2% in the second quarter.
Likewise, in the third quarter a drop of 0.4% was observed in real household spending, after an increase of 0.5% in the previous quarter, highlighting the lower consumption of various goods and services; transport (in particular air and sea transport), and food and non-alcoholic beverages.
The Government's real consumption spending fell 0.5%, after an increase of 2.5% in the previous quarter as a result mainly of lower spending on health and education, which fell 1.4% and 0.3% , respectively.
On the other hand, it is estimated that gross fixed capital formation fell by 2%, after an increase of 0.8% in the previous quarter.