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British economic growth slides to 0.5 pct in Q3

Xinhua, October 28, 2015 Adjust font size:

British economic growth was estimated to have increased by 0.5 percent in the third quarter of this year, compared with growth of 0.7 percent in the second quarter of 2015, the Office for National Statistics (ONS) said Tuesday.

This is the first estimate of economic growth for the third quarter of the year.

The slowdown of the rate in the third quarter was due to the performance of the construction and manufacturing sector.

The construction output dropped 2.2 percent which is the biggest fall in three years.

Meanwhile, output in the manufacturing sector declined by 0.3 percent as the output has now fallen for three consecutive quarters.

The service sector, the biggest part of the economy, grew by 0.7 percent.

All the signs are that growth in the fourth quarter of the year will soften again, BBC economics editor Robert Peston said. Endit