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UK’s economy edges up 0.4% MoM in Q3

UK’s economy edges up 0.4% MoM in Q3
UK’s economy edges up 0.4% MoM in Q3

Mubasher: The UK growth domestic product (GDP) inched up 0.4% month-on-month in the third quarter of 2017, Office for National Statistics' data on Thursday revealed.

Year-on-year, the UK economy levelled up 1.5%.

The increase in the country’s economy was attributed to a growth in services sector, while the country's production rose 1.1%.

“The current pace of UK GDP growth is ok, but it could be better,” The Independent newspaper reported, citing Kallum Pickering, an economist at bank Berenberg.

“Anaemic growth looks here to stay for years to come at a time when the other major economies of the world are enjoying a boom,” head of trading at online trading platform Infinox, Jacob Deppe stated.