British GDP Growth Revised Up

26 December 2003

Britain's Q3 economic growth data have unexpectedly been revised upward.

The Office for National Statistics now believes the nation's third-quarter GDP rose by 0.8% compared with the previous quarter and 2.1% year-on-year. It had previously estimated growth of 0.7% and 2.0% respectively.

The revision reflects higher figures for business activity and the health and social work sector. Analysts had not been expecting any alterations to the ONS data.

Q3 growth was the fastest since the 0.8% rise in the third quarter of 2002.

Data sourced from: BBC Online Business News (UK); additional content by WARC staff