URGENT: UK Economy Slows Sharply as Car Production Plummets

Breaking News: UK Economy Slows Sharply as Car Production Plummets The UK economy has slowed to 0.1% growth in the July-to-September period, according to official figures released today. This is below the predicted 0.2% growth and marks a significant slowdown from the 0.3% growth seen in the previous quarter. The sharp decline in car production, which plummeted due to a cyber-attack on Jaguar Land Rover, is a major contributor to the slowdown. Even when excluding the car production decline, other sectors of the economy showed weak growth. Consumer spending growth remains weak, and economists predict this could continue to weigh on growth for the rest of the year. The Office for National Statistics reported a "marked" fall in car production in September, which is a significant blow to the economy. The slowdown in growth is a concern for Chancellor Rachel Reeves, who has repeatedly said growth is her top priority. The Budget, in which she is widely expected to raise taxes, is just two weeks away. The latest GDP figure marks a slowdown from the 0.7% expansion in the first three months of the year. Economists are closely watching the situation, and further developments are expected in the coming days. This is a developing story, and we will continue to provide updates as more information becomes available.