A hefty drop in activity in the construction sector dragged down overall growth in the UK economy between July and September.
The economy grew by just 0.5 per cent in the third quarter of the year, after growth of 0.7 per cent in the previous three months and 0.4 per cent in the first quarter, according to the Office for National Statistics (ONS).
Most economists, along with Bank of England policymakers, had been expecting output to come in at 0.6 per cent and the weaker than expected figures will no doubt give Threadneedle Street more of a reason to hold off from lifting rates from the record low of 0.5 per cent.
George Osborne said: “It’s good news that Britain continues to outperform other western