The UK economy expanded by 0.7 percent in the three months to September, official figures show, marking its fastest quarterly growth rate in more than two years. The Office for National Statistics attributed the expansion to broad-based gains across the services sector, with professional services and retail activity contributing strongly, while manufacturing and construction also recorded modest increases. The figure exceeded many economists' expectations and follows a period of sluggish growth that had raised concerns about the durability of the UK's post-pandemic recovery.
Analysts said the stronger-than-expected data could influence the Bank of England's deliberations on interest rates, though officials have cautioned that a single quarter's performance does not establish a sustained trend. The Chancellor welcomed the figures as evidence that government measures to stimulate investment are taking effect, while opposition figures argued that living standards remain under pressure. Economists noted that uncertainties persist, including global trade tensions and subdued consumer confidence, and warned that fourth-quarter growth may moderate. The ONS is scheduled to publish revised estimates next month.
Independent reporting synthesized from primary wires and global correspondents.