UK economy shrinks by 0.1 in September, ONS says
Growth for Q3 cools to 0.1, weaker than BoE expected
Finance minister Reeves 39;not satisfied39; by data
UK GDP only 3 higher than before COVID
GDP per head has not grown in annual terms since 2022

Nov 15 Reuters Britain39;s economy contracted unexpectedly in September and growth slowed to a crawl over the third quarter, data showed on Friday, an early set back for finance minister Rachel Reeves39; ambitions to kickstart a sustained pickup.

Gross domestic product slipped by 0.1 in monthly terms during September as the services sector flatlined, while manufacturing and construction dropped, the Office for National Statistics said.

For the third quarter as whole, the economy grew by 0.1, slowing from 0.5 growth during the second quarter.

Economists polled by Reuters and the Bank of England had forecast an expansion of 0.2 in the JulySeptember period, slowing from the rapid growth of the first half of 2024 when the economy was rebounding from last year39;s shallow recession.

Improving economic growth is at the heart of everything I am seeking to achieve, which is why I am not satisfied with these numbers, Reeves said.

Now we are going to deliver growth through investment and reform, she added.

On Thursday Reeves promised a reboot of regulation governing Britain39;s crown jewel financial industry, which she said had stifled economic growth.

A 1.2 quarterly rise in business investment, which has grown for four…