Economic news

Economic growth in UK cools as car purchases go down

Britain’s economic expansion has moderated, with a drop in auto sales and stagnation in the manufacturing industry, showed figures from the Office for National Statistics.

The August-September growth was just 0.4%, down from 0.6% in July-September. October’s trade balance moved more in the deficit direction as imports gained quicker than exports.

The final quarter’s expansion is projected to further decelerate. The July-September period’s performance was higher than had been forecasted, with the economy advancing at fastest pace in around two years thanks to consumer expenditures during warm months.

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