British economy grows 0.1% in 3rd quarter, below forecasts
On yearly basis, GDP in UK estimated to have risen 1% in July-September
By Tuba Ongun
Gross domestic product (GDP) in the UK economy rose 0.1% in the third quarter of 2024 compared to the previous period, below market forecasts, according to flash data released on Friday.
The figure slowed from 0.5% growth in the second quarter and was below market forecasts of 0.2%, data from the Office for National Statistics showed.
The expansion was led by a 0.1% rise in the services sector and a 0.8% increase in construction output, while production fell 0.2% quarter-on-quarter in July-September.
On an annual basis, GDP in the UK is estimated to have risen 1% in the third quarter of this year.
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