UK growth in Q3 appears to be at fastest rate


Government statisticians say that the UK's economy grew by its fastest rate in nearly three years during the third quarter of 2002.

In revised figures published, the Office of National Statistics (ONS) said that growth hit 0.9% between July and September, and not 0.8% as previously thought.

The revision means that the economy is expanding at an annual rate of 2.1%, much higher than in Germany, France, Italy and many other EU countries.

ONS said the upward revision was due to stronger than expected performance by companies in the construction sector.

It is the second revision since initial GDP estimates for the third quarter were brought out in November.

The growth figure was originally thought to be 0.7%. Both upward revisions came as a surprise to economists in the City of London.



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