The UK economic output stagnated in the third quarter as higher interest rates damped spending and investment, though the economy likely escaped a recession this year.
Gross domestic product posted nil growth in the third quarter after expanding 0.2 percent in the preceding period, data from the Office for National Statistics revealed. The result was better than the expected fall of 0.1 percent.
In output terms, there was a decrease of 0.1 percent in the services sector. The fall offset a 0.1 percent rise in construction.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.