Wet weather also hit the construction and retail industries, the Office for National Statistics (ONS) said, causing the economy to contract by 0.5%.
He said despite the UK being hit by strike action and poor weather this summer, “a busy schedule of sporting events and increased theme park visits provided a slight boost” to the economy.
Chancellor Jeremy Hunt said the latest economic figures showed “many reasons to be confident about the future” and that the UK economy was now on course to grow faster than Germany, France and Italy.
Annie Rose owns Cumbrian Heavy Horses, a business where experienced riders and novices can pay to ride on fells, fields and beaches.
With interest rates at the highest level for 15 years, the cost of borrowing including for loans such as mortgages has soared, meaning people remortgaging their existing home or trying to buy a new one are paying hundreds of pounds more in repayments and their spending elsewhere is held back as a result.
While these are just an initial stab at estimating what activity was up to based on limited data, and could be a blip, the numbers are a reminder that we may be looking at a dampening for the economy.
The original article contains 981 words, the summary contains 204 words. Saved 79%. I’m a bot and I’m open source!
This is the best summary I could come up with:
Wet weather also hit the construction and retail industries, the Office for National Statistics (ONS) said, causing the economy to contract by 0.5%.
He said despite the UK being hit by strike action and poor weather this summer, “a busy schedule of sporting events and increased theme park visits provided a slight boost” to the economy.
Chancellor Jeremy Hunt said the latest economic figures showed “many reasons to be confident about the future” and that the UK economy was now on course to grow faster than Germany, France and Italy.
Annie Rose owns Cumbrian Heavy Horses, a business where experienced riders and novices can pay to ride on fells, fields and beaches.
With interest rates at the highest level for 15 years, the cost of borrowing including for loans such as mortgages has soared, meaning people remortgaging their existing home or trying to buy a new one are paying hundreds of pounds more in repayments and their spending elsewhere is held back as a result.
While these are just an initial stab at estimating what activity was up to based on limited data, and could be a blip, the numbers are a reminder that we may be looking at a dampening for the economy.
The original article contains 981 words, the summary contains 204 words. Saved 79%. I’m a bot and I’m open source!