UK GDP growth confirmed at 0.5% for Q3

Surpassed expectations

Daniel Flynn
clock • 2 min read

The Office for National Statistics (ONS) has said UK gross domestic product (GDP) grew by 0.5% from July to September, confirming previous estimates.

According to the ONS, GDP was boosted by export growth, stronger consumer spending and an unexpected leap in business investment. The results follow an estimate of 0.5% made at the end of October with a third estimate due in December. On the year, growth was confirmed at 2.3%, in line with expectations and earlier estimates. Despite a 1% drop in Q2, exports were up 0.7% in the third quarter, while imports fell 1.5% despite a 1.3% jump in Q2. UK GDP up 0.5% in Q3 but 'we are not out of the woods yet' Darren Morgan, an ONS statistician, said: "Investment by businesses held up w...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

Trustpilot