The latest figures released by the Office for National Statistics (ONS) shows the UK economy grew by 0.4% during the third quarter of the year.
The latest figures from ONS show gross domestic product (GDP) grew by 0.4% in its initial estimate for July to September this year.
This growth was boosted by the buoyant services and manufacturing industries, which are continuing to go from strength-to-strength.
Speaking during a visit to the Francis Crick Institute, the largest biomedical research laboratory in Europe, the chancellor of the exchequer, Philip Hammond, said: “We have a successful and resilient economy which is supporting a record number of people in employment.
“My focus now, and going into the Budget, is on boosting productivity so that we can deliver higher-wage jobs and a better standard of living for people across the country.”
Darren Morgan, the ONS’ head of national accounts, said: “Services, led by increases in IT, motor trades and retail, continued to drive GDP growth.
“Manufacturing also boosted the economy with an improved performance after a weak second quarter.
“However, construction output fell for the second consecutive quarter, although it remains above its pre-downturn peak.”
Britain’s powerhouse services sector, which accounts for around 79% of the UK economy, grew by 0.4% during the third quarter, the same rate as the three months before.
However, the main drivers came from the business services and finance sector, which increased by 0.6%.
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