- Revised U.K. GDP grows at 0.5% in the third quarter
Market news
27 November 2015
Revised U.K. GDP grows at 0.5% in the third quarter
The Office for National Statistics (ONS) released its revised gross domestic product (GDP) data on Friday. The revised U.K. GDP expanded at 0.5% in the third quarter, in line with the preliminary reading, after a 0.7% rise in the second quarter.
The growth was driven by a rise in household spending. Household spending rose 0.8% in the third quarter, after a 0.7% increase in the second quarter.
Exports climbed 0.9% in the third quarter, while imports were up 5.5%.
Business investment jumped 2.2% in the third quarter.
The service sector climbed 0.7% in the third quarter.
On a yearly basis, the revised U.K. GDP rose 2.3% in the third quarter, in line with the preliminary reading, after a 2.4% gain in the second quarter.
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