UK economy slows


The UK economy, as measured by gross domestic product (GDP), slowed in the third quarter of the year, preliminary estimates show.


GDP, the main indicator of economic growth, is estimated to have increased by 0.5% in third quarter 2015 compared with growth of 0.7% in second quarter. However it’s a marginal improvement on the first quarter of the year when growth was 0.4%.


Output increased in three of the main industrial groupings within the economy in third quarter. Services, accounting for over three-quarters of the economy, increased by 0.7%. Production increased by 0.3%, but, within the sector, manufacturing output fell by 0.3%. 


GDP was 2.3% higher than the same quarter a year ago.


The preliminary estimate of economic growth for the third quarter makes use of only half of the data that will be used to produce the final estimate.


www.ons.gov.uk/ons/dcp171778_421500.pdf