UK economy in shock slowdown as recovery loses steam
Official figures show UK growth was weaker than thought in the second and third quarters. Britain's recovery is losing steam, according to official data that showed growth this year was weaker than previously thought.
The economy expanded by just 0.4pc in the third quarter, from a previous estimate of 0.5pc, according to revised figures published by the Office for National Statistics (ONS).
Growth in the second quarter was also revised down to 0.5pc. Statisticians had previously thought the economy grew by 0.7pc over the period.
The ONS said weaker services growth drove the third-quarter revision as financial services firms expanded at a much slower pace than initially thought. Inventories led to the second-quarter change.
On an annual basis the UK economy expanded by 2.1p...