UK GDP Rises Less Than Estimated In Q3

The UK economy expanded less than estimated in the third quarter, revised data from the Office for National Statistics showed on Wednesday.

Gross domestic product grew 1.1 percent sequentially, instead of 1.3 percent estimated previously. This follows a revised increase of 5.4 percent in the second quarter.

The level of GDP was 1.5 percent below where it was pre-coronavirus at the fourth quarter of 2019, revised down from the prior estimate of 2.1 percent.

Annual GDP decreased 9.4 percent in 2020, revised from the first quarterly estimate of negative 9.7 percent.

Another report from the ONS showed that the current account deficit widened to GBP 24.4 billion, or 4.2 percent of GDP in the third quarter.

The primary income deficit widened to GBP 7.1 billion or 1.2 percent of GDP. At the same time, the secondary income deficit rose to GBP 6.4 billion.

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