(ONS) UK’s economy is estimated to have grown by 1.3% in the third quarter, after a jump of 5.5% in the previous quarter on growing output after the easing of Covid restrictions.
Services output rose by 1.6% in the third quarter, after growing by 6.5% in the second. The output is now only 0.7% before the pandemic level.
Production output rose by 0.8% in the third quarter, reflecting an increase in quarrying and mining activities.
UK GDP is now 2.1% below the fourth quarter of 2019, before the onset of coronavirus.
The increase in UK output happens even as its total goods and trade services trade balance reached 4.3 billion pounds in the third quarter, up by 3.5 billion pounds.
The trade in goods deficit increased by 5.7 billion pounds to 39.9 billion pounds in the third quarter. Trade in services surplus rose by 2.2 billion pounds to 35.6 billion pounds in the same period.
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