UK's economy recovered in September-October with an increase of 0.5%

Posted on December 19, 2022   |  

Between September-October, the British economy grew by 0.5% in which October's rebound followed a drop of 0.6% in September, which was influenced by the extra bank holiday for the funeral of Queen Elizabeth II.

Meanwhile, construction continued its strong movement in the last year and stands at its highest level with new housebuilding driving growth because 0.3% points of the rise were due to a return to the normal number of working days in October after September's bank holiday.

Despite the monthly rebound, the UK's GDP fell by 0.3% in the 3 months to October compared with the 3 months to July.