Without plan to get real wages rising, GDP growth will be stuck in slow lane

Commenting on the latest GDP figures published today (Thursday), which show quarterly GDP growth slowing from 5.5% in Q2 to 1.3% in Q3 and declines for manufacturing and construction,

TUC General Secretary Frances O’Grady said:

“The slowdown is worrying for workers who are already expecting real wages to fall.

“The Chancellor’s budget had no plan to get pay rising, with workers facing rising prices, higher taxes and lower social security. Without strong pay growth, demand will be weak and the economy will get stuck in the slow lane again.

“The government must go back to the drawing board and come up with a plan to get real wages rising across the economy.”

Time series data as part of the quarterly GDP publication: