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Growth back in third quarter
OUTPUT GREW robustly in the third quarter, according to estimates released by a think tank yesterday, but it warned that this growth was largely down to “special” events.
GDP grew 0.8 per cent between the second and third quarters, the National Institute of Social and Economic Research (NIESR) estimated, but “underlying” growth is much lower, they say.
Stripping out the effects of the economy rebounding from June’s extra bank holiday, and other one-off movements, the think-tank says the economy grew around 0.2 to 0.3 per cent.
NIESR estimates have been closely correlated with official statistics in the past.