GDP growth sticks at 0.7 per cent in the third quarter

 
Emma Haslett
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Headwinds from Europe are beginning to affect UK growth (Source: Getty)

The Office for National Statistics (ONS) today confirmed its estimate for GDP growth between the second and third quarters, leaving growth at 0.7 per cent.

The figure is a fall from the previous quarter's 0.9 per cent growth, although that had been expected.

The statistics authority added that between the third quarter of last year and the third quarter of this year, GDP in volume terms had increased by three per cent, which also remained unrevised. GDP in current prices increased 1.6 per cent between the second and third quarters.

The figure makes the UK one of the fastest-growing major economies in Europe, although the slowdown from the previous quarter does add to mounting evidence that weakness in European economies is beginning to hit recovery in the UK.

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