UK GDP growth hits highest level since 2016

0.6% growth

UK GDP grew at its fastest rate since Q4 2016 in the third quarter of the year as retail sales were boosted by the hot summer weather and the World Cup in July.

  According to the Office for National Statistics (ONS), the UK economy jumped 0.6%, up from the 0.4% growth seen in the previous quarter. All four sectors of output - services, industry, construction and agriculture - contributed to growth this quarter, with the biggest coming from the services industry with 0.3% expansion. However, the UK economy failed to grow in August or September, with zero growth in September missing economists' expectations for 0.1% expansion. Furthermore, UK business investment contracted by 1.2% from the previous quarter, the sharpest decline since Q1 ...