Sluggish UK Economy Falls Behind The G7 Pack Again

• Britain's economic recovery from the coronavirus pandemic lagged behind that of other rich nations in the July-September period, according to official data on Thursday, which underscored the interest rate dilemma facing the Bank of England. 
• Gross domestic product grew by 1.3%, the weakest three-month growth since Britain was under lockdown in early 2021.The Bank of England and a Reuters poll of economists had forecast an expansion of 1.5%. 
• The Office for National Statistics said Britain's economy remained 2.1% smaller than it was at the end of 2019, a bigger shortfall than in fellow Group of Seven countries Germany, Italy and France. 
• The United States has already surpassed its pre-crisis size. Canada and Japan, the other G7 members, have yet to report third quarter growth data but had already regained more ground by the second quarter than Britain had achieved by the third quarter.

(Source: Reuters)