The UK economy expanded by 0.5% in the July-to-September period, according to the Office for National Statistics, slower than the 0.7% rate in the previous quarter, but stronger than analysts’ estimates of about 0.3%, according to a BBC report.
“There is little evidence of a pronounced effect in the immediate aftermath of the vote,” the ONS said.
The economy was boosted by a strong performance from the services sector, which grew by 0.8% in the quarter.
Welcoming the figures, the Chancellor of the Exchequer, Phillip Hammond said: “The fundamentals of the UK economy are strong and today’s data show that the economy is resilient.”
Transport, storage and communication were the strongest performing service industries.
ONS chief economist Jo Grice said “A strong performance in the dominant services industries continued to offset further falls in construction, while manufacturing continued to be broadly flat.”
This is the first estimate of economic growth for the period, using less than half the data that will be used for the final estimate.
