• U.K. Q3 GDP expands at fastest pace since 2010

Market news

25 October 2013

U.K. Q3 GDP expands at fastest pace since 2010

The U.K. economy expanded at the fastest rate since the second quarter of 2010, preliminary data from the Office for National Statistics showed Friday.

Gross domestic product grew 0.8 percent sequentially in the third quarter, slightly faster than the 0.7 percent expansion logged in the preceding three months. The rate matched economists' expectations.

The third quarter increase was the biggest since the second quarter of 2010, when it grew 1 percent.

Compared with the third quarter of 2012, the economy grew 1.5 percent. The ONS, however, said that the Olympics and Paralympics took place during the third quarter of 2012, raising the level of GDP in this quarter.

Data showed that output increased by 1.4 percent in agriculture, 0.5 percent in production and 2.5 percent in construction. The dominant service sector advanced 0.7 percent.


Market Focus
Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimer
Open Demo Account & Personal Page
I understand and accept the Privacy Policy and agree to my name and contact details being used by TeleTrade to contact me about this.