The UK economy expanded only marginally in the fourth quarter as tax hike concerns ahead of the Autumn Budget dampened activity, data from the Office for National Statistics revealed on Thursday.
Gross domestic product grew 0.1 percent on a quarterly basis, the same slow pace of increase as seen in the third quarter. Moreover, this was slightly weaker than the forecast of 0.2 percent.
On an annual basis, GDP was up 1.0 percent in the fourth quarter compared to economists' forecast of 1.2 percent.
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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.