Investing.com - The rate of economic growth in the UK slowed over the last three months, according to figures released by the Office for National Statistics on Monday.
Gross domestic product grew 0.4% in the three months to October the ONS reported, slowing from the 0.6% expansion seen in the three months to September and in line with forecasts.
Manufacturing output shrank by 0.9% in October, the worst performance since March 2016, while the service sector grew by 0.2% and the construction sector shrank by 0.2%.
“GDP growth slowed going into the autumn after a strong summer, with a softening in services sector growth mainly due to a fall in car sales. This was offset by a strong showing from IT and accountancy. Manufacturing saw no growth at all in the latest three months, mainly due to a decline in the often-erratic pharmaceutical industry", said Rob Kent-Smith, head of national accounts at the ONS.
"Construction, while slowing slightly, continued its recent solid performance with growth in housebuilding and infrastructure.”
Month-on-month, GDP ticked up 0.1% in October after flat readings in August and September and grew by 1.5% on a year-over-year basis.