UK economy grows 0.8 pct in Q3

The 0.8 percent increase is the highest recorded over last three years despite the country's decreased credit rating.

UK economy grows 0.8 pct in Q3

World Bulletin / News Desk

The UK's economy grew by 0.8 percent in the third quarter of 2013 compared to the same period last year.

The Office for National Statistics (ONS) announced Thursday that according to the "Gross Domestic Product: Preliminary Estimate Q3 2013" figures, GDP growth rate was 0.8 percent in the April-June period, the best quarterly performance since 2010.

ONS stated the construction sector was grew by 2.5 percent, contributing the most to the growth.

Chancellor of the Exchequer George Osborne commented via his official Twitter and said, "This shows that Britain's hard work is paying off and the country is on the path to prosperity."

The British economy grew 0.7 percent in the second quarter of this year, despite of the country's slow economic growth. International rating agencies Fitch and Moody's decreased the UK's credit rating by one point in 2013.

 

Last Mod: 25 Ekim 2013, 16:59
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