The UK economy grew by 0.7% in the third quarter, its fastest rate of expansion in more than two years.
The figure marks a clear step up in the pace of growth and is likely to be read as a sign that activity across the country is gathering speed. It is the quickest quarterly rise recorded since the summer of two years ago.
One report says the growth came despite high oil prices, which have pushed up costs for households and businesses. Fuel and energy bills have weighed on spending for many people, and the economy kept expanding in spite of that pressure.
Impact on workers, firms and borrowers
A stronger quarter matters to workers, employers and borrowers alike, since the pace of growth feeds into hiring, wages and decisions on interest rates. Households and firms across England, Scotland, Wales and Northern Ireland are covered by the UK-wide figure.
Outlook for the final quarter
Attention now turns to whether the momentum can be held. Growth of 0.7% in a single quarter does not settle the direction of the economy, and the figures for the final three months of the year will show whether the improvement continues.
Further economic data is due in the coming weeks.
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