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27/11/2012
UK Economy Enjoys 1% Boost
The UK economy has grown by 1%, official figures show.
Between July and September, the Office for National Statistics' showed the economic boost ending a nine-month recession.
This was attributed to a 0.6% rise in consumer spending. The services sector grew by 1.3%.
Year-on year the economy contracted by 0.1%.
Growth in industrial production fell to 0.9% from 1.1%.
Analysts have warned the boost may be short lived.
"If anything, the details in the new data further highlight the temporary nature of the upturn," Chris Williamson at research group Markit, told the BBC.
David Owen at investment banking group Jefferies commented to the website: "People are generally expecting GDP to have slowed sharply into the fourth quarter on the published figure, or indeed to have actually contracted slightly compared to the third quarter."
(GK)
Between July and September, the Office for National Statistics' showed the economic boost ending a nine-month recession.
This was attributed to a 0.6% rise in consumer spending. The services sector grew by 1.3%.
Year-on year the economy contracted by 0.1%.
Growth in industrial production fell to 0.9% from 1.1%.
Analysts have warned the boost may be short lived.
"If anything, the details in the new data further highlight the temporary nature of the upturn," Chris Williamson at research group Markit, told the BBC.
David Owen at investment banking group Jefferies commented to the website: "People are generally expecting GDP to have slowed sharply into the fourth quarter on the published figure, or indeed to have actually contracted slightly compared to the third quarter."
(GK)
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