Unlock the Editor’s Digest for free

Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.

The UK economy was even weaker than initially estimated in the third quarter, in the latest blow to the Labour government.

GDP failed to grow in the three months to September, the Office for National Statistics said on Monday, down from its first estimate of a 0.1 per cent expansion.

The economy was held back by the dominant services sector, which failed to grow. The revision is a setback to the government, which has put boosting the economy’s growth at the heart of its agenda.

Business surveys point to weaker confidence and curtailed hiring intentions following Rachel Reeves’ tax-raising Budget in October.

This is a developing story