UK Economy Expands 0.8% in Q3

In Q3, United Kingdom GDP growth accelerated to 0.8 percent quarter-on-quarter, up from 0.6 percent in the second quarter of 2013 and in line with expectations. Output increased in all main industrial groups and at its fastest pace in more than three years.

Construction output reported the strongest quarterly growth since the second quarter of 2010, increasing 2.5 percent in the third quarter, up from 1.9 percent in Q2 of 2013.

The services industries expanded by 0.7 percent, mainly due to the 1.3 percent growth of distribution, hotels and restaurants, while business services and finance output was up by 1 percent. Government and other services (+0.7 percent) and transport, storage and financial services (+0.3 percent) also contributed to growth. Output from services is now slightly above its previous peak in Q1 2008, prior to the economic downturn.

The index of production went up by 0.5 percent, due to a 3.8 percent expansion in water supply and sewage and 1.4 percent increase in the output of agriculture, hunting and forestry. In contrast, output of electricity, gas, stream and air fell by 6.8 percent.

UK Economy Expands 0.8% in Q3

ONS | Krisztina Györffy |
10/25/2013 4:06:10 PM