New figures show economy slowing down

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The Independent Online

Economic growth in Britain slowed during the three months to the end of September, according to the latest figures.

Economic growth in Britain slowed during the three months to the end of September, according to the latest figures.

Provisional figures from the Office For National Statistics showed gross domestic product (GDP) grew by an estimated 0.7% in the third quarter of the year, compared to 0.9% growth in the previous three months.

That means output is 2.9% higher than a year ago, against a 3.2% annual rate of growth the previous quarter.

The figures are likely to ease concerns over a possible rise in interest rates.

The UK economy has now had 33 successive quarters of growth since the trough of the last recession in the second quarter of 1992. Since then, GDP has grown by 27 percent.

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