Output down as British economy turns sluggish

A tough summer for industrial-based firms was blamed today for the British economy’s weakest quarter of growth since early last year.

Gross domestic product is estimated to have grown by 0.4% in the three months to the end of September – down on the 0.9% seen in the second quarter and short of City expectations. The year-on-year rate was 3%, compared with 3.6% reported in the second quarter.