UK GDP revised upwards in Q3

The Office for National Statistics (ONS) has revised up the UK’s economic growth for the third quarter of 2011.

According to the office’s latest figures, GDP grew by 0.6% during the three months to the end of September. The ONS previously estimated economic growth of 0.5% across the quarter.

Output of the production industries increased by 0.2%, the organisation says, within which manufacturing rose by 0.1%. Services’ output rose by 0.7%, while the construction industry expanded by 0.3%.

A statement by the ONS says: “The profile of GDP growth in recent quarters continues to point towards a rather fragile economic picture.

“During the nine quarters of the recovery, the economy has gained just over half of the output lost during the five quarters of contraction.”

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