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| UK economy grew 0.9% in third quarter, says the ONS | UK economy grew 0.9% in third quarter, says the ONS |
| (35 minutes later) | |
| The UK economy grew 0.9% in the third quarter, says Office for National Statistics (ONS), less than the 1% it had previously estimated. | The UK economy grew 0.9% in the third quarter, says Office for National Statistics (ONS), less than the 1% it had previously estimated. |
| Output from manufacturing and services sectors grew less than expected, the ONS said. | Output from manufacturing and services sectors grew less than expected, the ONS said. |
| But the decline in output from the construction industry was slightly less than previously thought. | But the decline in output from the construction industry was slightly less than previously thought. |
| The UK's official statistics authority regularly revises its data as more information is collected. | The UK's official statistics authority regularly revises its data as more information is collected. |
| Joe Grice, chief economist at the ONS, told the BBC that the change to the growth figure was "not significant". | Joe Grice, chief economist at the ONS, told the BBC that the change to the growth figure was "not significant". |
| He pointed out that despite this strong showing, the economy is still about 3% below the level it reached before the recession. | He pointed out that despite this strong showing, the economy is still about 3% below the level it reached before the recession. |
| The UK's services sector, which accounts for the majority of gross domestic product (GDP), or the value of all goods and services produced in the UK, grew by just 0.1% in October, indicating a weak start to the fourth quarter. | The UK's services sector, which accounts for the majority of gross domestic product (GDP), or the value of all goods and services produced in the UK, grew by just 0.1% in October, indicating a weak start to the fourth quarter. |
| Figures also showed that the government borrowed £17.5bn in November, £1.2bn higher than a year earlier. Economists had predicted borrowing would fall slightly to around £16bn. | |
| The bigger-than-expected increase piles more pressure on Chancellor George Osborne as he struggles to reduce public borrowing in the face of a sluggish economy. | |
| This takes total borrowing so far this financial year to £92.7bn, £8.3bn more than the same period in 2011. | This takes total borrowing so far this financial year to £92.7bn, £8.3bn more than the same period in 2011. |