UK Economy Growing Faster Than Forecast

The UK economy is growing faster than previously estimated, according to the latest official figures.

The Office for National Statistics (ONS) said gross domestic product was up 0.8% in the July-to-September period compared with the previous quarter, confirming its previous estimate.

But it revised its growth figures for earlier quarters.

This means the estimated annual growth rate has now risen from 1.5% to 1.9%, a revision that has surprised economists.

A Treasury spokesman said: “Today’s data show that the recovery has been stronger than previously thought and that the government’s long-term economic plan is working.

“But risks remain and the job is not done, so the government will go on taking the difficult decisions needed to deliver a responsible recovery for all.”

via BBC

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