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UK Economy Stagnates as Growth Grinds to Halt

Source: ft.com

UK GDP showed zero growth in the three months to August, marking stagnation after two quarters of expansion.
Rising employers' National Insurance contributions and higher minimum wages squeezed business profits and hiring.
Economists warn this halts recovery and raises recession risks amid fragile consumer spending.

The article examines the UK's latest GDP figures, revealing no growth in the quarter ending August despite earlier recovery hopes. It highlights how tax hikes and wage increases are curbing business activity and economic momentum. This matters because it signals potential trouble for the government's growth plans and households facing higher costs.