UK GDP Expands Marginally In Q3

(RTTNews) - The UK economy expanded marginally in the third quarter, the Office for National Statistics reported Thursday.

Gross domestic product grew 0.1 percent sequentially, following the prior quarter's 0.3 percent expansion. This was also slower than forecast of 0.2 percent.

On a yearly basis, the economy logged a growth of 1.3 percent in the third quarter, as expected.

Data showed that growth was driven by increases of 0.2 percent in services and 0.1 percent expansion in construction. By contrast, production output was down 0.5 percent.

Month-on-month, GDP fell 0.1 percent following no growth in August and a 0.1 percent fall in July. Another report from the ONS showed that the visible trade deficit narrowed to GBP 18.89 billion from GBP 19.53 billion in August. The total trade gap was GBP 1.09 billion compared to a GBP 1.27 billion shortfall in the prior month.