UK growth recovery slows sharply

Britain's economic recovery from pandemic fallout slowed sharply in the third quarter as global supply disruptions hurt businesses, official data showed Thursday.

Gross domestic product grew 1.3 per cent in the July-September period, down from 5.5 per cent in the second quarter, the Office for National Statistics (ONS) said in a statement.

"As the world reopens we know that there are still challenges to overcome," finance minister Rishi Sunak said in response.

Despite the sharp growth slowdown in the third quarter, the chancellor of the exchequer added that the UK was  "forecast to have the fastest growth in the G7 this year".

The ONS added that the UK economy was still 2.1 per cent below its level before the outbreak of the coronavirus pandemic at the end of 2019.

The economy contracted 0.2 per cent in July before rebounding in August and September, it said.

ONS chief economist Grant Fitzner said that in the third quarter  "business investment remained well down on pre-pandemic levels".