UK Economy Stumbles: Growth Slows Down Sharply in Q3

The UK's economic growth markedly decreased in the third quarter, rising only by 0.1% compared to 0.5% in the earlier quarter. The new Labour government is under scrutiny as critics accuse them of negatively impacting economic sentiments. Growth remains a top priority for the new administration.

The UK's economic growth experienced a considerable decline in the third quarter, with official figures showing just a 0.1% rise, markedly down from 0.5% in the previous quarter.

This disappointing performance is below market expectations of 0.2% growth, leading critics to argue that the new Labour government, which took charge in July after 14 years, has impacted economic sentiments within its initial weeks of tenure.

As the government makes boosting economic growth its primary focus over the next five years, the country's economic output continues to linger below pre-crisis levels, failing to meet previous performances since the global financial crisis of 2008-09.

(With inputs from agencies.)