ONS | Economy growth at fastest rate in 3 years

Pete Mugleston

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According to the Office for National Statistics (ONS) the economy grew at its quickest pace in three years in Q3 this year, as our GDP rose by 0.8%. This was the third period of improvement in succession and figures show parity with expectations and came as no surprise to economists in the city.

More notably for homeowners and potential borrowers construction grew 2.5%, which is a clear reflection on the impact of the governments Help to Buy 2 scheme, rolled out earlier than planned last month to help add fuel to the recovering housing market.

This coupled with an unexpectedly quicker fall in unemployment has turned the eye of experts towards the Bank of England and their forecast on interest rates. Watch this space…

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