British Economic Growth Slows
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British economic growth slowed considerably in the third quarter of 2004 due to poor performance in the industrial sector. Preliminary figures from the Office for National Statistics showed that gross domestic
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Gloom over the British economy spread on  Monday as the Confederation of British Industry slashed its  growth forecasts and more evidence emerged of falling house  prices.
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Britain recorded economic growth of 3.1 percent last year, picking up after a rate of 2.9 percent in 2006, according to official data published on Wednesday.
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LONDON: The British economy braked sharply in the third quarter when growth slowed to 0.4 per cent, the weakest pace for over a year, as a string of interest rate rises took effect, official figures showed yesterday.
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The British economy braked sharply in the third quarter when growth slowed to 0.4 percent, the weakest pace for over a year, as a string of interest rate rises took effect, official figures showed.
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The economy grew at a slower pace than previously thought during the second quarter, official data has shown.
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Worries about the credit crunch led to slower growth in UK manufacturing last month, industry figures show.
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The UK economy is set to slow markedly in 2005, Deloitte warns, with growth of just 2%.
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Britain's industrial sector appears to have been a bigger drag on overall economic growth in the third quarter than was first assumed.
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UK economic growth may be 1% lower in 2008 and 2009 because of the credit crunch, the Ernst & Young Item Club says.
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The British economy expanded by 2.9 percent during the first quarter of 2007 on a 12-month comparison, official data showed on Friday.
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New figures reveal a slowdown in the UK economy in the third quarter, attributed to declining industrial production.
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Investor's Business Daily - Last year, the United Kingdom was still coasting on an uninterrupted growth cycle that began in 1992. It averaged annual GDP growth of 2.5% for years. In September, the British pound hit a high of $2.03. Many expected the British economy to kick into overdrive and reach a 3% increase for 2007.
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The chances of a recession are low even though UK economic growth will slow sharply, a report says.
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The economy could be headed for slower growth in the next several months, according to a report released Thursday by a private research group.
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Britain's manufacturing recovery stuttered in the third quarter, weighed down by a slowdown in demand and the surging cost of raw materials, the country's leading business grouping said.
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The UK economy grew at its fastest rate in three years in 2007, but growth slowed towards the end of year.