Investing.com – The U.K. economy grew in line with expectations during the third quarter of 2010, unchanged from an advanced estimate, official revised data showed on Wednesday.
In a report, the U.K.’s National Statistics Office said gross domestic product increased at a seasonally adjusted rate of 0.8% during the third quarter, unchanged from a preliminary estimate of 0.8%.
Analysts had expected the revised estimate of U.K. gross domestic product to rise 0.8% in the third quarter.
The report said that year-on-year, GDP grew at an annual rate of 2.8%, in line with expectations and unchnaged from a preliminary estimate.
According to the data, the largest contribution to the growth in the third quarter was from the business services sector and finance and government.
Following the release of that data, the pound was up against the U.S. dollar, with GBP/USD rising 0.09% to hit 1.5790.
Meanwhile, European stock markets were mixed: The FTSE 100 gained 0.22%, the EURO STOXX 50 declined 0.16%, France’s CAC 40 shed 0.08%, and Germany's DAX was up 0.33%.
In a report, the U.K.’s National Statistics Office said gross domestic product increased at a seasonally adjusted rate of 0.8% during the third quarter, unchanged from a preliminary estimate of 0.8%.
Analysts had expected the revised estimate of U.K. gross domestic product to rise 0.8% in the third quarter.
The report said that year-on-year, GDP grew at an annual rate of 2.8%, in line with expectations and unchnaged from a preliminary estimate.
According to the data, the largest contribution to the growth in the third quarter was from the business services sector and finance and government.
Following the release of that data, the pound was up against the U.S. dollar, with GBP/USD rising 0.09% to hit 1.5790.
Meanwhile, European stock markets were mixed: The FTSE 100 gained 0.22%, the EURO STOXX 50 declined 0.16%, France’s CAC 40 shed 0.08%, and Germany's DAX was up 0.33%.