Qualified advisers answering your
Financial Questions
call 0800 092 1245

UK GDP rises by 0.8%


The UK economy grew between July and September as GDP increased by 0.8% according to the Office for National Statistics (ONS), the best quarterly performance since 2010.

The UK economy has seen ‘fairly strong’ growth across all sectors, building on growth of 0.7% in the previous quarter, leading to claims from Chancellor of the Exchequer, George Osbourne that “Britain’s hard work is paying off and the country is on the path to prosperity.”

Additionally, these figures are only initial estimates, with some economists believing that this growth could actually be revised upwards. Therefore, adding the possibility of even more good news in regards to the state of the UK economy.

In regards to specific industry sectors, the volatile construction sector is among the most successful industries in the last quarter, showing a 2.5% growth over the last three months, potentially showing real possibilities of a full on recovery from the sector. The construction sector in general has been aided by a host of government schemes such as the ‘help to buy’ scheme which was aimed to kick start the industry.

Finally, the services sector, which represents three quarters of the UK economic output grew by 0.7%, which is only 0.6% off its pre-crisis level, suggesting that the sector could see a full recovery by as early as next quarter.

Need Advice?

If you have any financial questions and need advice, contact our financial advisers for assistance

Share this..

Related stories

Financial Guides

Financial Calculators

Our useful calculators can help you get your finances in order:

Latest News


Helpful new tax year facts that could affect you and your money

Blog | Seven helpful new 2016/2017 tax year facts that could affect you and your money. Our recent online blog shares a brief outline on how to stay up to date.

Read more

Useful Links

Popular Searches

Please Enter More Details

Enter More Details