UK GDP Rises By 0.4%


The UK economy experienced a higher than expected growth in Q3 of 2017.

Gross domestic product (GDP) in the months between July and September rose by 0.4%, where in the first two quarters of 2017, growth was 0.3% according to the Office for National Statistics (ONS). Services were a key driver of the growth, with IT, motor trades and retail playing a big part in pushing the increase. Manufacturing also contributed to the growth, however construction fell for the second consecutive quarter.

Many economists are now predicting that the Bank of England will increase interest rates next week, from the historic low of 0.25%. More on the GDP increase can be found on The Telegraph website.