Financial News: UK GDP Growth Accelerates

UK GDP Growth Accelerates

11/12/2026 - 03:06:00 (RTTNews)

(RTTNews) - The UK economy expanded at a faster pace in the third quarter on household spending and investment, the Office for National Statistics said Thursday.

Real gross domestic product grew 0.7 percent on a quarterly basis, following an increase of 0.5 percent in the second quarter. The rate came in line with expectations.

On the production-side, output in the services sector increased 0.9 percent and the production sector grew 0.1 percent, while the construction sector contracted 0.7 percent.

The expenditure-side breakdown showed that household consumption rose 0.6 percent driven by increases in transport and housing. Government spending also grew 0.6 percent.

Within gross capital formation, gross fixed capital formation moved up 1.7 percent. At the same time, business investment gained 0.4 percent.

The UK's trade deficit for goods and services was estimated at 1.3 percent of nominal GDP in the third quarter.

On a yearly basis, GDP expanded 1.9 percent in the third quarter, matching expectations.

In September, the economy grew 0.2 percent after showing no growth in August, data showed.

Another report from ONS showed that the visible trade deficit widened to GBP 22.3 billion in September from GBP 19.6 billion in August.

The overall trade balance covering goods and services showed a deficit of GBP 5.13 billion compared to a GBP 2.57 billion shortfall in the previous month.

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