Issue 47
Economy expands
The UK economy is performing well, according to official figures for the third quarter of 2010.
Gross domestic product (GDP) grew by 0.8% in the third quarter, according to the Office for National Statistics. GDP was up 2.8% on the same quarter of 2009.
In the third quarter, manufacturing output increased by 1.0% on the previous quarter, but growth was not as strong as the 1.6% increase posted in the second quarter.
Manufacturing output was 5.3% higher than the same quarter of 2009.
Output in the production industries (manufacturing, mining and utilities) was up by 0.6%, and was 3.3% up on a year earlier.