October

UK economy grows at fastest rate for three years

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Britain’s economy is continuing to improve, with official figures showing it to be growing at its fastest rate in over three years. Figures released by the Office for National Statistics (ONS) found that UK economic output rose by 0.8% from July to September this year.

Chancellor of the Exchequer George Osborne took to Twitter to comment on the announcement saying: “0.8% growth. This shows that Britain’s hard work is paying off & the country is on the path to prosperity.”

This figure improves on the 0.7% rise seen in April to June and is the highest performance since 2010. The ONS stated that economic activity had risen across the board with agriculture, services, production and construction all registering growth.

George Osborne went on to say: “It shows that we are on the path to prosperity. Lots of risks remain, so we have to stick with the economic plan that has got us this far.

What's encouraging about these figures is that it's not just services that are growing. Construction is growing and manufacturing is growing.”

The full report can be found on the ONS website.

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Posted by
Matthew Thompson
28 October 2013
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