UK GDP rises 0.5% in third quarter

The UK economy grew at 0.5% in the third quarter, beating expectations, the Office for National Statistics has said.

An uptick in output within the services sector was responsible for the boost to growth. The ONS said: ""Growth in the third quarter was led by the services data, accounting for 76% of total GDP, with services contributing the whole of the 0.5% increase in GDP in the third quarter." The service industries output increased by 0.7% in the third quarter, from 0.2% in Q2. The preliminary estimate was ahead of expectations, with economists pencilling in 0.3% growth. The GDP figure has improved from the sluggish second quarter figure of just 0.1%, which was revised down last month due ...