Official figures have revealed that UK economic growth exceeded expectations in the third quarter (Q3) of 2017.<\/p>\n
Data suggests that UK gross domestic product (GDP) grew by 0.4 per cent during the three months to September, 0.1 per cent higher than previously forecast in a far-reaching poll conducted by Reuters.<\/em><\/p>\n The rate of growth was also up by 0.1 per cent quarter-on-quarter.<\/p>\n Commenting shortly after the news broke, Chancellor Philip Hammond said that the data represented \u201csolid performance\u201d for the economy.<\/p>\n He praised the fact that growth had \u201coutperformed market expectations\u201d and said that this had continued to be the case ever since the European Union (EU) referendum last year.<\/p>\n \u201cMy focus now, and going into the Budget, is on boosting productivity so that we can deliver higher-wage jobs and a better standard of living for people across the country,\u201d he said.<\/p>\n After the data was unveiled, sterling rose on currency markets, advancing by one per cent against the dollar to just above $1.32.<\/p>\n Commentators have said that an interest rate hike is now looking increasingly likely at the Bank of England\u2019s upcoming policy meeting, which is due to take place next week.<\/p>\n Earlier this month, Governor of the Bank of England Mark Carney hinted strongly that an interest rate rise was just around the corner.<\/p>\n","protected":false},"excerpt":{"rendered":" Official figures have revealed that UK economic growth exceeded expectations in the third quarter (Q3) of 2017.<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"_links":{"self":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts\/2092"}],"collection":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/comments?post=2092"}],"version-history":[{"count":1,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts\/2092\/revisions"}],"predecessor-version":[{"id":2093,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts\/2092\/revisions\/2093"}],"wp:attachment":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/media?parent=2092"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/categories?post=2092"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/tags?post=2092"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}