UK economy grows by 0.7% in third quarter despite high oil prices
ONS also says GDP rose 0.2% month on month in September, in a boost to the chancellor, John Healey
The UK economy grew by 0.7% in the third quarter, as expected by City analysts, confirming that consumers and businesses remained resilient despite high oil and gas prices.
The Office for National Statistics said a jump in the cost of petrol, diesel and natural gas prices following the re-escalation of the conflict in the Middle East played an important role in restricting economic growth in the three months to the end of September.
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RASIPOGULA GOPAL
Sr. Reporter
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