UK economy grew by just 0.1% in third quarter amid hit from JLR cyber-attack

The UK economy experienced very slow growth, expanding by only 0.1% between July and September. This minimal growth was negatively impacted by a significant cyber-attack on Jaguar Land Rover (JLR) that disrupted manufacturing operations. The cyber-attack caused a substantial drop in car production, leading to a 0.1% decrease in the UK's gross domestic product (GDP) for September alone. Overall manufacturing output fell by 2.0% in September, largely due to a 28.6% decline in the production of motor vehicles, trailers, and semi-trailers. The slowdown in economic activity began before the cyber-attack, with August growth revised down to zero. The third-quarter growth of 0.1% is a considerable slowdown compared to the 0.3% expansion in the previous quarter and fell short of market expectations. In addition to the manufacturing sector, services output also saw a slower growth rate of 0.2% in the third quarter, down from 0.4% in the preceding three months, with a decline in professional, scientific, and technical activities contributing to this trend. These weaker-than-ex... download the app to read more