UK GDP Growth Accelerates In Q3

The UK economy expanded at a faster pace in the third quarter, figures from the Office for National Statistics showed Friday.

Gross domestic product advanced 0.6 percent sequentially after expanding 0.4 percent a quarter ago. The growth rate matched economists’ expectations.

Growth in services output slowed to 0.4 percent, but remained the largest positive contributor to GDP growth in the third quarter, the ONS said.

Construction output growth continued to pick up following a weak start to the year, while quarterly output in the manufacturing sector rose for the first time in 2018.

Output in the production sector rose 0.8 percent, in contrast to a decline of 0.8 percent in the second quarter.

On a yearly basis, GDP grew 1.5 percent in the third quarter, in line with expectations.

In September, real GDP remained flat for the second straight month. GDP growth in the third quarter was driven by growth of 0.3 percent in July, which stemmed from strong retail sales and the World Cup.

The material has been provided by InstaForex Company –

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