The UK's economic growth slowed to 0.1% in the third quarter of 2024, falling short of the 0.2% forecast, as reported by the Office for National Statistics. This deceleration from the previous quarter's 0.5% growth is attributed to downturns in factory output and IT services, although the construction sector showed resilience. The Labour government, which took office in July, faces criticism for the economy's underperformance despite its focus on boosting growth. Chancellor Rachel Reeves acknowledges the challenges but emphasizes investment and reform to spur economic improvements. The Bank of England has lowered interest rates following a dip in inflation and anticipates that the recent budget will positively impact GDP in the coming year. Analysts remain cautious amid global uncertainties, including potential impacts from U.S. tariffs under President-elect Donald Trump.