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UK GDP growth accelerates to 0.7 per cent on investment
Developing story first seen 16 minutes ago
The latest figures show UK GDP grew by 0.7 per cent in the third quarter, accelerating from 0.5 per cent in the previous quarter. The increase was supported by business investment in AI, data centres, infrastructure and defence, helping offset higher energy costs linked to the Middle East conflict.
Consumers continued spending and businesses remained fairly confident despite geopolitical uncertainty, according to Deutsche Bank economist Sanjay Raja. He expects growth to cool in the final quarter as inflation and interest rates weigh on activity, although survey data into November was resilient and pre-Budget uncertainty was limited.
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In short
- UK GDP grew 0.7 per cent in the third quarter.
- AI, data centre and defence investment supported growth.
- Higher inflation and interest rates may slow growth later in the year.
How this story developed
- 10 minutes ago The updated account repeats the 0.7 per cent growth figure and adds that November survey data remained resilient, while Deutsche Bank economist Sanjay Raja warned that inflation and interest rates could slow activity in the final quarter.
- 16 minutes ago UK GDP expanded by 0.7 per cent in the third quarter, with investment in AI, data centres, infrastructure and defence helping to counter higher energy costs tied to the Middle East conflict.
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Originally published by Daily Mail as “UK economy grows by 0.7 per cent as spending on AI and defence staves off cost-of-living slowdown”.