UK GDP growth confirmed at 0.5% for Q3

Surpassed expectations

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...