LONDON (AP) — Economic growth in the U.K. slowed down to a near standstill in the third quarter of the year, official figures showed Thursday, in what is a blow to the British government less than two weeks ahead of a crucial budget that is expected to see taxes rise again.
The Office for National Statistics said that the economy grew by 0.1% between July and September from the previous three-month period. That was down on the previous quarter’s 0.3% increase and below market expectations for a 0.2% rise.
The cyber attack on Jaguar Land Rover, Britain’s biggest automaker, was a key reason why growth came in lower than expected. The attack, which saw workers sent home on Aug. 31, halted production in the company’s factories as well as suppliers. Operations restarted in October.
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