Britain's economy barely expanded in the third quarter, held back by September's cyber attack on Jaguar Land Rover, according to data on Thursday that underlined the backdrop of slow growth as finance minister Rachel Reeves readies her budget.

The truth about the UK economy this year is much less exciting. The Bank of England said last week that by the end of 2025 it expected real GDP growth in the year to have been 1.4 per cent, exactly on track to meet the Office for Budget Responsibility’s forecast from March.

Pantheon Macroeconomics expects the UK economy to grow 0.2% in Q3, citing firm activity data and improving sentiment. “GDP and retail sales have held up better than feared,” the firm said. “The flash PMI also shows business confidence edging higher.”

The UK budget is usually a story of growth forecasts, borrowing levels and fiscal discipline. But ahead of this month's high-stakes event, growth has been slower than expected. At the same time, as households struggle with living costs,

Separate data published by the ONS on Thursday showed output per hour worked, a measure of labour productivity, grew at an annual rate of 1.1 per cent in the three months to September. This marked a rebound from a 0.5 per cent contraction in the previous quarter.

Britain does not have to “accept” grim economic forecasts, Rachel Reeves has insisted despite reports she faces a barrage of fiscal bad news ahead of next month’s Budget. Writing in the Guardian, the Chancellor acknowledged that productivity forecasts from the Office for Budget Responsibility (OBR) could make for tough reading.

WASHINGTON (Reuters) -Britain should not reduce the frequency of its twice-yearly economic forecasts, but a related assessment of the government's compliance against budget rules should only take place once a year, the International Monetary Fund said on ...