UK economy grows 0.7 percent in third quarter

UK real GDP rose 0.7 percent in the third quarter of 2026, up from 0.5 percent in the second quarter and in line with the 0.7 percent economists polled by Reuters had forecast, the Office for National Statistics said on Thursday.

Why it matters: Growth matched the Bank of England's own projection a week after it raised Bank Rate to 4 percent, so the print gives the Bank no new reason to change course before its December meeting.

Data as of Office for National Statistics first quarterly estimate for July to September 2026, released November 12, 2026 at 7:00am GMT and read in full. Consensus comparison is the Reuters poll reported the same morning. Developing item.

UK real GDP rose 0.7 percent in the third quarter of 2026, following growth of 0.5 percent in the second quarter, the Office for National Statistics said in its first quarterly estimate. Output was 1.9 percent higher than a year earlier, and real GDP per head also rose 0.7 percent in the quarter. Monthly GDP rose 0.2 percent in September, after August was revised down to no growth from an earlier 0.1 percent reading.

Services did the work: services output rose 0.9 percent, led by business-facing services, while production rose 0.1 percent and construction fell 0.7 percent, with private housing new work down 4.7 percent. Household consumption rose 0.6 percent and gross fixed capital formation rose 1.7 percent, with business investment up 0.4 percent. The quarterly print matched both the Reuters poll consensus of 0.7 percent and the Bank of England’s November projection.

UK economy grows 0.7 percent in third quarter

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