What do economists make of the GDP figures?

Canary Wharf Ice Rink

"Export-oriented manufacturing, the largest industrial sub-sector expanded by 1.0 per cent. United Kingdom export-related sectors now benefit from the healthy expansions in the UK's major trading partners, the U.S. and the eurozone, and a tailwind from the weaker sterling, which is down 12 per cent on a trade-weighted basis since the Brexit vote".

Darren Morgan, the ONS' head of national accounts, said: "Services, led by increases in IT, motor trades and retail, continued to drive GDP growth".

United Kingdom economic growth picked up in the third quarter of the year to a better than expected 0.4%, according to preliminary figures.

Industrial production also rose in July and August but construction contracted for a second quarter in a row.

This breaking news story is being updated as more information emerges - please refresh the page for the most recent version.

"If all we can muster, in terms of a payoff, is an acceleration in economic growth that's so small you could blink and miss it, the Bank of England could still think better of a rate rise next week".

"However, construction output fell for the second consecutive quarter, although it remains above its pre-downturn peak".

Kardashians ink megabucks renewal deal with E! through 2020
The KUWTK producer also gave props to Kylie , who is reportedly pregnant with rapper Travis Scott's baby. She plans to pass the empire along to their children and their children's children.

Google and Cisco Create New Cloud Powerhouse
Cisco software components will be licensed on an annual subscription basis including one-, three- and five-year terms. Cisco's customers are increasingly using cloud services instead of investing in hardware for their own data centers.

Former FBI chief James Comey reveals secret Twitter account
Comey was sacked back in May by President Trump when he disagreed with his boss on a number of issues. Comey has more than 40,000 followers, a number that grew throughout the day Monday.

GDP rose 0.4 percent, a ratio higher than the 0.3 percent seen in the first two quarters of the year.

Peter Dixon, economist at Commerzbank, said that the United Kingdom economy is "running around 0.5 percent per year more slowly than prior to the European Union referendum".

Responding to the GDP announcement, the Chancellor said: "We have a successful and resilient economy which is supporting a record number of people in employment".

Despite Wednesday's gains, sterling is still trading well down on its value before last year's Brexit vote, when £1 would have bought $1.50 or €1.31.

Sterling shot up following the release, rising more than 0.3% against both the U.S. dollar and the euro. A 25 basis point increase merely reverses last year's cut - which was arguably unnecessary - and returns rates to where they've been for the entire post-crisis period.

The data comes a week ahead of the BoE's meeting, during which the Bank is widely expected to announce an increase in interest rates for the first time in a decade.

Related:

Comments

Latest news

Konami teases Metal Gear Survive announcement for tomorrow
The game was originally supposed to come out this year, but was pushed to give the dev team more time to polish the game . Konami has confirmed that Metal Gear Survive will launch on PlayStation 4 , Xbox One and PC on February 22, 2018.

WTA Finals: Wozniacki reaches semis
It means Garcia, Svitolina and Halep will battle for the final semi-final position from the Red Group . I played a good game but it was too late. "So I know this was my chances, so I went for it.

Dustin Pedroia Out For Seven Months
Other potential free-agent second basemen include Neil Walker , Howie Kendrick , Brandon Phillips and Danny Espinosa. Pedroia hurt the knee again this season, and spent two different stints on the disabled list with inflammation.

Laptop Found in Las Vegas Gunman's Hotel Room Missing Hard Drive
Court records show Bruce Paddock has previous convictions for vandalism, criminal threats and theft, according to NBC News . Bruce Paddock was taken into custody at an assisted living home in North Hollywood , the website reported .

House GOP launches probes into Obama-era uranium deal, Clinton email inquiry
The FBI also claimed it uncovered evidence that Russian nuclear officials had funneled " millions " into the Clinton Foundation. Nunes said Tuesday that he has not spoken with the White House about the uranium matter.

ESPN cancels 'Barstool Van Talk' with PFT Commenter and Big Cat
ESPN announced Monday afternoon it has canceled the controversial show Barstool Van Talk after just one episode. In times like these, we remember what a great philosopher once said: Success isn't owned, it's leased.

Gas Prices Down Again at the Pump in Columbia
Michigan's lowest average price was about $2.50 per gallon in the Marquette area. Retail prices remain about 5-10 cents higher than where they should be.

PayPal can now give you money (or take your money) through Messenger
Helping PayPal reach a broader audience, Facebook is now inviting USA consumers to use payments service directly from Messenger . Besides the person-person payment feature, PayPal also announced the launch of a customer service bot for Messenger .

Cardi B Gets Kicked Out of Albany Hotel, Calls the City 'Racist'
Let this be a lesson to the blanket taking culprit in Cardi's life, don't get comfortable because she will cut you off! A police rep later told TMZ no evidence was found linking Cardi's team to the weed smell and no arrests were made.

Another Hollywood Figure Is Facing Dozens Of Sexual Harassment Claims
The piece explored the way he allegedly harassed young actresses, though it referred to the women as "pickupees", not victims. According to the women, Toback used his position in Hollywood to set up meetings that "quickly turned sexual".

New Hilarious Thor: Ragnarok Scene Explores Loki And Thor's Relationship
Occasionally, however, an auteur will come aboard the MCU and help make something truly unique-often with the help of the cast. But all that idiosyncratic filmmaking would be nothing without a cast willing to create alongside the director.

13 original Xbox backward compatibility games available this week
Microsoft will also give all of the games nine times their original pixels compared to the games on the original Xbox console. He also reaffirmed that the new backward compatible titles will have no achievements nor online multiplayer.

Mugabe Removed as WHO Goodwill Ambassador
President Robert Mugabe as WHO Goodwill Ambassador for NCDs in Africa". "Canada calls for this appointment to be rescinded". He said the decision to rescind the appointment was in the "best interests of the World Health Organisation".

Trump disputes Gold Star widow's account of phone call
She wants to know why it reportedly took 48 hours to find his body - and even questioned if it's really him in the coffin. Johnson said Monday that Wilson's account was accurate. "Why would we fabricate something like that?" she later added.

Mann's Recalls Vegetable Products Due to Listeria Concerns
Healthy individuals may still suffer short-term symptoms such as fever, headache, stiffness, nausea, abdominal pain and diarrhea. The seafood meal bags are just a few of the almost 100 products being recalled by Mann Packing .

Other news