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Tags: EU | Britain | Economy

UK Economic Growth Revised Down to 0.4 Percent for Q3

Friday, 25 December 2015 06:13 AM

LONDON (AP) — Britain's economy grew by less than previously thought during the third quarter.

Official figures show that Britain's economy grew by 0.4 percent in the third quarter of the year from the previous three-month period. That was down from the previous estimate of 0.5 percent.

The Office for National Statistics blamed a weaker performance from the services sector for the downward revision. It also revised down its second-quarter estimate from 0.7 percent to 0.5 percent.

The consensus in the markets was for no change in the previous estimates.

Despite the downward revisions, Britain's economy remains one of the best-performing in the developed world. It's now expanded for 11 quarters in a row.

The Treasury said Britain's economy remained strong although Wednesday's figures highlighted that risks remain.

© Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


Europe
Britain's economy grew by less than previously thought during the third quarter.Official figures show that Britain's economy grew by 0.4 percent in the third quarter of the year from the previous three-month period. That was down from the previous estimate of 0.5...
EU,Britain,Economy
127
2015-13-25
Friday, 25 December 2015 06:13 AM
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