UK's GDP growth below estimates in Q3

ISTANBUL

The UK's economy grew by 0.9% year-on-year in the third quarter, below market expectations of 1%.


Meanwhile, on a quarterly basis, the British economy has shown a zero-percent growth rate, while market expectation was at 0.1%, the Office for National Statistics (ONS) said on Monday.


While there was no growth in the services sector in the latest quarter, a 0.7% increase in construction was offset by a 0.4% fall in production.


Real households’ disposable income per head shows no growth in the third quarter.

The household saving ratio is estimated at 10.1% in the latest quarter, down from 10.3% in the previous quarter.

The British economy grew by 0.7% in the second quarter and 0.3% in the first quarter of 2024 on a yearly basis.