The Office for National Statistics have released its figures that GDP (Gross domestic product) in the 3 months to September was 0.6 percent higher than in the previous quarter.
Today’s (Friday’s) figures should help the Bank of England breathe a sigh of relief as it matches their forecast for the quarter, the BofE also predicts a Growth of 0.3 percent for the last quarter of the year.
The Office of National Statistics was setup to provide independant forecasts and analysis of the UK Economy, Trade and Employment figures. The figures are always published directly on their website which can be viewed here: https://www.ons.gov.uk/economy
The UK Economy hasn’t been in great shape since the Brexit vote in June 2016, with two years of questions with now answers, most companies have struggled to grow. This hit consumers as well, with wages nowhere near keeoing up with inflation and the falling pound against most currencies.
Its been a rubbish couple of years, and whilst there are still concerns over investment and International Trade, we are happy to finally be getting some positive news.