British economic growth slows to 0.7 percent in Q3


(MENAFN) Official data confirmed previous forecasts that Britain's economic growth slowed to 0.7 percent in the third-quarter period from output in the previous quarter, AFP reported.

On a quarterly basis, the country's gross domestic product (GDP) expanded by 0.9 percent during the second quarter and by 0.7 percent in the first quarter, the data showed.

According to the Office for National Statistics, economic output in the July-September period was driven by consumer spending. Meanwhile, household consumption grew 0.8 percent.

"Today's figures show that the government's long term economic plan is working, with the fastest annual growth in the G7 and all the main sectors of the economy growing," a Treasury spokesman said.


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