UK growth up 0.4 pct in Q3

By Ahmet Gurhan Kartal

LONDON (AA) - The U.K.’s economy grew unexpectedly in 2017’s third quarter, according to data revealed on Wednesday by the country’s Office for National Statistics (ONS).

GDP rose 0.4 percent, a ratio higher than the 0.3 percent seen in the first two quarters of the year.

The growth came despite financial and economic worries over Brexit and a future trade deal with the EU.

However, 0.4 percent is a still below the U.K.’s long-term growth rate, as data suggest 2017 could be the poorest growth year for the British economy since the financial crisis in 2007-2008.

The British pound rose shortly after today’s growth report, going up 0.25 percent against the US dollar to $1.317.

The ONS data suggested the service industry, manufacturing, car production and industrial production all helped the slight rise in GDP growth.