Economic Performance - The UK's GDP for Q3 2025 shows a quarter-on-quarter growth of 0.1%, a slowdown from 0.3% in Q2 and below the market expectation of 0.2% [1] - Year-on-year growth stands at 1.3%, slightly below the anticipated 1.4% [1] - The services sector grew by 0.2%, while construction saw a marginal increase of 0.1%, but the production sector contracted by 0.5% [1] Industrial Output - Industrial output experienced a significant decline of 2.0% in September, reversing the previous month's growth of 0.3%, marking the largest monthly drop since January 2021 [1] - Manufacturing output fell by 1.7%, with a notable decrease of 28.6% in the production of motor vehicles, trailers, and semi-trailers [1] - Year-on-year industrial output decreased by 2.5%, exceeding market expectations of a 1.2% decline [1] Trade Dynamics - The trade deficit narrowed to £1.09 billion in September, the smallest level since January, with the previous value revised to £1.28 billion [2] - Exports fell by 0.9% to £77.21 billion, the lowest in three months, while imports decreased by 1.1% to £78.3 billion, reaching an eight-month low [2] - Exports to the EU dropped by 2.7%, primarily due to reduced fuel exports, and exports to non-EU countries fell by 8.0%, with a significant 11.4% decline in exports to the US [2] Business Investment - Business investment declined by 0.3% in the three months to September, better than the expected 0.7% drop, marking the second consecutive quarter of decline [2] - Year-on-year growth in business investment slowed to 0.7%, significantly lower than the previous quarter's 3.0% [2] - However, gross fixed capital formation increased by 1.8%, supported by investments in information and communication technology, machinery, housing, and intellectual property products [2] Construction Sector - The construction sector showed a notable rebound, with orders increasing by 29.3% year-on-year in Q3, the fastest growth since Q4 2021, reversing the previous quarter's decline of 11.7% [3] - Seasonally adjusted, construction orders grew by 9.8% [3] - Public housing orders surged by 72.9%, new housing orders rose by 17.0%, and private housing orders increased by 9.2% [3] Overall Economic Outlook - Despite positive contributions from net trade and a strong rebound in construction activity, the deep contraction in industrial production and ongoing weakness in business investment indicate structural pressures on the UK economy amid high interest rates and weakened external demand [3]
英国三季度GDP意外放缓 贸易逆差收窄难抵生产端萎缩
Xin Hua Cai Jing·2025-11-13 08:04