UK economy ‘grew in third quarter’

The UK economy has grown in the three months from July to September, according to figures from the British Chambers of Commerce (BCC). The BCC have stated that the economy has grown by 0.5%, based on a survey of 7,593 UK firms. Additionally, it was revealed last week that the UK economy contracted by less than thought in the second quarter, by 0.4% in the period from April to June. The figures come despite the Office of National Statistics’ (ONS) ‘gloomy estimation’ that the economy has been contracting for the last nine months. This said, the BCC, who represent 104,000 business members, have conceded that fixing the UK’s finances will take longer than previously hoped.