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- U.K. Q3 GDP expands at fastest pace since 2010
U.K. Q3 GDP expands at fastest pace since 2010
The U.K. economy expanded at the fastest rate since the second quarter of 2010, preliminary data from the Office for National Statistics showed Friday.
Gross domestic product grew 0.8 percent sequentially in the third quarter, slightly faster than the 0.7 percent expansion logged in the preceding three months. The rate matched economists' expectations.
The third quarter increase was the biggest since the second quarter of 2010, when it grew 1 percent.
Compared with the third quarter of 2012, the economy grew 1.5 percent. The ONS, however, said that the Olympics and Paralympics took place during the third quarter of 2012, raising the level of GDP in this quarter.
Data showed that output increased by 1.4 percent in agriculture, 0.5 percent in production and 2.5 percent in construction. The dominant service sector advanced 0.7 percent.
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