		<div class="wpcnt">
			<div class="wpa">
				<span class="wpa-about">Advertisements</span>
				<div class="u top_amp">
							<amp-ad width="300" height="265"
		 type="pubmine"
		 data-siteid="111265417"
		 data-section="2">
		</amp-ad>
				</div>
			</div>
		</div><p>The UK economy avoided falling into a recession after UK Gross Domestic Product (GDP) returned to growth in the third quarter.</p>
<p>GDP increased by 0.3% between July and September, according to the Office for National Statistics (ONS).</p>
<p><!--Ads1--></p>
<p>However, the economy was slightly weaker than both market expectations and the Bank of England’s latest forecasts, which had pointed to 0.4% growth for the period.</p>
<p>The economy had been at threat of entering a recession – which is defined by two consecutive quarters of economic decline – after it contracted by 0.2% in the three months to June 2019.</p>
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
<p lang="en" dir="ltr">0.3% increase in GDP in Q3 2019 with services up 0.4%, manufacturing unchanged and construction up 0.6% <a href="https://t.co/f8rVIakt1a">https://t.co/f8rVIakt1a</a> <a href="https://t.co/mTIMpHzdUS">pic.twitter.com/mTIMpHzdUS</a></p>
<p>&mdash; Office for National Statistics (ONS) (@ONS) <a href="https://twitter.com/ONS/status/1193823452718870528?ref_src=twsrc%5Etfw">November 11, 2019</a></p></blockquote>
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<p>A spokesman for the ONS said: “GDP grew steadily in the third quarter, mainly thanks to a strong July.</p>
<p>“Services again led the way with construction also performing well. Manufacturing failed to grow as falls in most industries were offset by car production bouncing back following April shutdowns.</p>
<p>“The underlying trade deficit narrowed, mainly due to growing exports of both goods and services.”</p>
<p>The ONS said the quarterly figure highlights some signs of the economy “slowing”, as UK GDP had grown at 1% since the equivalent quarter in 2018. It said this represented the greatest year-on-year slowdown since 2010.</p>
<p>The 0.3% growth rate was particularly driven by 0.4% growth reported in July, driven by strong manufacturing figures on the back of strength in the pharmaceutical sector.</p>
<p>Meanwhile, the services and construction sectors delivered growth throughout the quarter as they were boosted by seasonal trends.</p>
<p>Manufacturing output was flat for the period, as was overall production, following Brexit-driven volatility in the previous quarters.</p>
<p>Elsewhere, an increase in UK-based film and TV production helped the information and communication industry to its sixth consecutive period of growth, as output increased by 0.8%.</p>
<p>Wholesale, retail and motor trades also saw a 0.3% increase in the quarter, accelerating from 0.1% in the previous period.</p>
<p><!--Ads2--></p>
<p>The ONS data dump also showed that the UK’s trade deficit narrowed once again, falling by £5 billion to £6.4 billion for the quarter.</p>
			<div style="padding-bottom:15px;" class="wordads-tag" data-slot-type="belowpost">
				<div id="atatags-dynamic-belowpost-68ed1009a20bf">
					<script type="text/javascript">
						window.getAdSnippetCallback = function () {
							if ( false === ( window.isWatlV1 ?? false ) ) {
								// Use Aditude scripts.
								window.tudeMappings = window.tudeMappings || [];
								window.tudeMappings.push( {
									divId: 'atatags-dynamic-belowpost-68ed1009a20bf',
									format: 'belowpost',
								} );
							}
						}

						if ( document.readyState === 'loading' ) {
							document.addEventListener( 'DOMContentLoaded', window.getAdSnippetCallback );
						} else {
							window.getAdSnippetCallback();
						}
					</script>
				</div>
			</div>
Discover more from London Glossy Post
Subscribe to get the latest posts sent to your email.
