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Office of National Statistics

UK Economy Grows By 0.6% in Third Quarter
BusinessNews

UK Economy Grows By 0.6% in Third Quarter

The UK economy has grown by 0.6% in the third quarter of this year according to new figures released today by the Office of National Statistics.

The economy, which grew from 0.4%, is seeing its fastest economic expansion since 2016. The strongest growth was seen throughout July, reportedly off the back of the Football World Cup and the heatwave.

UK #GDP grew 1.5% in Q3 2018 compared with Q3 2017 https://t.co/03n1MP4Yyu pic.twitter.com/zhoXaoZRpA

— ONS (@ONS) 9 November 2018


Head of national accounts at ONS Rob Kent-Smith said: “The economy saw a strong summer, although longer term economic growth remained subdued.

“There are some signs of weakness in September with slowing retail sales and a fall back in domestic car purchases.

“However, car manufacture for export grew across the quarter, boosting factory output.

9th November 2018
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Public borrowing falls to a 16-year low
BusinessNews

Public borrowing falls to a 16-year low

Figures released today indicate that public borrowing fell to a 16-year low for the current financial year-to-date.

The Office of National Statistics today said that borrowing last month fell to an 11-year September low of £4.1bn, £800m less than the deficit stood a year ago.

The deficit stood at £19.9bn for the year to September, £10.7bn less than the same period a year ago and the lowest year-to-date since 2002.

The figures are a positive sign for the British economy as it moves closer towards leaving the European Union.

19th October 2018
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