Preliminary estimates from the UK’s Office for National Statistics show that the UK’s gross domestic product (GDP) grew by 0.1% in the third quarter of this year, ending in September, following growth of 0.3% in the second quarter. This fell short of expectations. On a monthly basis, the economy contracted by 0.1% in September, after showing no growth in August (revised downward by 0.1%).

The services sector, which accounts for more than 70% of the UK economy, grew by 0.2% in the third quarter, while the construction sector grew by 0.1%. However, output fell by 0.5% in the third quarter.