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UK GDP revised upwards in Q3

The Office for National Statistics has revised the UK GDP figure upwards by 0.1 per cent in the third quarter of 2011.

According to the office’s latest figures, GDP grew by 0.6 per cent during the three months to the end of September. The ONS previously estimated economic growth of 0.5 per cent across the quarter.

Output of the production industries increased by 0.2 per cent, the organisation says, within which manufacturing rose by 0.1 per cent. Services’ output rose by 0.7 per cent, while the construction industry expanded by 0.3 per cent.

A statement by the ONS says: “The profile of GDP growth in recent quarters continues to point towards a rather fragile economic picture.

“During the nine quarters of the recovery, the economy has gained just over half of the output lost during the five quarters of contraction.”

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