UK GDP Growth Accelerates In Q3

LONDON (Alliance News) - The UK economy expanded at a faster pace in the third quarter, figures ...

Alliance News 9 November, 2018 | 10:13AM
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LONDON (Alliance News) - 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% sequentially after expanding 0.4% a quarter ago. The growth rate matched economists' expectations.

Growth in services output slowed to 0.4%, 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%, in contrast to a decline of 0.8% in the second quarter.

On a yearly basis, GDP grew 1.5% 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% in July, which stemmed from strong retail sales and the World Cup.

Copyright RTT News/dpa-AFX

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