UK Economic Accounts: ONS

  • The UK economy grew by 0.9 per cent in the third quarter of 2012, following three consecutive quarters of negative growth.
  • Despite being revised down by 0.1 percentage points from the previous estimate, the latest quarterly growth rate remains the strongest since the third quarter of 2007.
  • Unusual factors in the second and third quarters are thought to have been partly responsible for this. In the second quarter, the poor weather and the loss of a working day due to the Diamond Jubilee may have reduced output. In contrast, hosting the Olympic and Paralympic Games in the third quarter may have supported output.


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