Latest News Tue, Mar 22, 2016 5:25 PM
UK economic output rose by 0.8% between July and September and official figures from the Office for National Statistics point to a "fairly strong" performance across all sectors.
The data builds on a 0.7% GDP rise in the April-June period and is the best quarterly performance since 2010.
The ONS data for construction was up 2.5% over the quarter, the second successive quarter of growth after a volatile performance over the past year.
House-builders have been buoyed by the Government's Help to Buy scheme, which recently launched a new phase offering mortgage guarantees.
The ONS said that production grew by 0.5%, though this remains 12.8% off its 2008 level, while within this, manufacturing improved 0.9% in the third quarter.
The services sector, which represents three-quarters of economic output, grew by 0.7%. Output from services is now 0.4% above its pre-crisis peak in the first quarter of 2008.
That means three successive quarters of expansion and what looks like a solid recovery. All three main sectors - services, manufacturing and construction - grew in the third quarter.
Construction, after proving a major drag on the economy last year, was up 2.5%, though data in this notoriously volatile sector is always subject to revision.
But overall economic activity is still not back where it was before the recession. The important services sector is higher than the previous peak, but manufacturing and construction some way below. Further evidence is needed before this can be judged a truly balanced recovery.
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