The latest expansion was primarily driven by the services sector, which grew by 0.9 per cent. Production output increased by 0.1 per cent, while construction contracted by 0.7 per cent.
The ONS also reported that GDP increased by 0.2 per cent in September alone, following no growth in August and a 0.4 per cent expansion in July.
Household consumption contributed to the quarterly improvement, increasing by 0.6 per cent. Investment in machinery and transport equipment also supported economic activity.
The figures indicate that the economy maintained positive momentum despite continuing pressure from higher energy costs and borrowing expenses.
For households, stronger economic growth could support business activity, employment opportunities and incomes. However, the GDP figures do not automatically translate into higher wages or lower household expenses.
Borrowers may also continue facing pressure from interest rates and inflation. The Bank of England has warned that higher energy prices could push inflation upwards, potentially affecting household purchasing power.
The central bank's November economic assessment projected third-quarter growth of 0.7 per cent, although its business survey indicators suggested a more moderate underlying economic momentum.
The ONS cautioned that the latest GDP figures are preliminary estimates and may be revised as additional economic information becomes available.
The next quarterly national accounts release is scheduled for December 22, 2026, when more detailed information on the economy's performance will become available.https://x.com/BBCBreaking/status/2120774851942093141?a=zh7n2AcxyRbrMxyADfc&s=20
Leave a Reply