Good News For UK Growth Figures

Today, it was revealed that Britain’s economy grew better than economists had predicted in the third quarter. Such positive data strengthens the hopes resting on a stable recovery for the UK.

The growth-marker was read at 0.8% which was roughly twice the increase that top economists had predicted for Q3. This brightens the fact that the actual quarter-on-quarter rise was less than previous readings which stood at 1.2% in the previous quarter.

The Office for National Statistics has recorded that over the last six months, economic growth has now hit the 2% threshold which sees the speediest pace of expansion in that period (2 quarters) for the past 10 years. This is quite a sterling result and its effect is one of fortification for post-recession recovery hopes.

Each year, the growth results display a return to pre-recession economic health. It is thought that the data will now boost the government’s deficit-busting plans.

David Cameron commented on Monday that there would be “a relentless focus on growth” which should help to fill the void left by the coalition’s austerity levels.

The news might do something to soothe the rather disappointing economic data that suggested both business activity and consumer spending has declined.

Explore posts in the same categories: Economy, Finance

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