This rise in the growth in the UK will not last, according to Ana Boata, a senior economist at Euler Hermes.
She fears that growth can halve in the current quarter:
"The number of temporary factors was triggered in the UK's economic growth in Q3 including contingency planning in the light of uncertainty on the Brexit bargain by March 2019.
"We expect CMC growth to decrease to 0.2-0.3% in Q4 as tightening financial conditions, weaker consumer confidence and more vulnerable profitability take their toll on the UK economy. The drag of the growth of associated uncertainties Brexit will continue and will hinder investment opportunities.
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Here is a confirmation that the sun and football have helped to stimulate the UK economy in July.
Improved news: British exporters help drive growth over the summer.
ONS says net trade was the biggest positive contribution to GDP growth over the past three months, thanks to an increase of 2.7% in exports. Exports were always.
UK business investment in the worst world since the financial crisis
Another mistake: business investment decreased by 1.2% between Quarter 2 and Quarter 3 2018.
This is the widespread decline since the first quarter of 2016 and marked the third consecutive quarterly decline – which has not been seen since the global financial crisis, says ONS.
This is likely to be due to Brexit's uncertainty, as companies are reluctant to commit to new factories and offices until they are clearer.
Annually, the UK economy grew 1.5% in July-September.
That's the best result in a year.
But ONS is not impressed, saying that the UK continues "its relative performance over the past year."
The economics of the UK economy in September
The GDP report today also shows that the UK economy had not posted any growth in September, or in August.
Economists have expected GDP to rise 0.1% in September, so this is a blow. Growth is not one month (thank you July!) Enough.
The ONS says:
Growth of GDP Real in Quarter 3 was driven by a growth of 0.3% in July 2018, which resulted from strong retail sales boosted by warm weather and World Cup, as well as a low base that reflects weaker start of the year
The month-to-month growth in real GDP has always been in August and September 2018.
Confirmation that the UK economy has risen its best quarter since the end of 2016:
All of the four sectors of the UK economy – services, industry, construction and agriculture grew in the last quarter.
The ONS says:
The four output sectors contributed positively to grow in Quarter 3 2018, with the greatest contribution from the service industries at 0.3 percentage points.
FORUM FIGURES DUBLE MEMBERSHIP
NEWSFLASH: The UK economy increased by 0.6% in the third quarter of this year.
That's the fastest growth in a calendar quarter since the last three months of 2016.
That's up 0.4% in the second quarter of 2018, says Office for National Statistics.
More to follow.
The UK's highest-level growth potential since the end of 2016 has stimulated the London stock market.
There are shares across Europe this morning, as the rally following US elections this week goes out. This has hit 0.7% off the Stoxx 600, which traces the largest companies in the region.
Russia Mold, investment director in AJ Bell, he said:
"Just as it looked like the mid-US election results boosting markets around the world, momentum has been lost quickly.
"The price of falling oil has troubled investors and relocating their focus on concerns about slowing down global economic growth."
If today's third quarter CMC report is strong, then July can take a lot of credit.
Consumer spending surges helped to drive growth at the beginning of the last quarter, but the end is likely to have reduced.
Like Marc Ostwald o ADM Investor Services give it:
The story for the UK economy in Quarter 3 was a strong start that had almost completely roamed by the end of the quarter, indeed the monthly CMC and the Service Index for September are only 0.1% m / m after level readings in August.
Q3 Business Investment is predicted to be confronted to 0.2% q / q, which would be an improvement on Q2 & -0.7% q / q, but it is obviously Highly highlighted by uncertainty related to Brexit
Presentation: The summer growth figures in the UK are expected to sizzle
Britain's nice summer, alas, behind us. The barbecue has been put away, and the World Cup wall charts have been pulled down, as the country extends to Storm Deirdre to give us an autumn blow.
But we always get the memories. And this morning, we discover how well the economy performed in July-September – and one of which Brexit's uncertainties and global trade conflicts were taking the best of red summer.
The UK's new GDP data is expected to show that the British economy expands at its fastest rate in almost two years over the summer, with a growth of around 0.6%.
That would be much better than the relative growth of 0.1% recorded in C1, or the 0.4% in C2.
To be honest, it would be surprising if the GDP today was reading it was not da. Under the UK's new monthly CMC reporting system, we already know that July is strong (with only 0.6% growth in that month).
August seems to have been flat, but growth has risen slightly in September.
Royal Bank of Canada predict that the growth of homes and construction activity boost growth over the summer:
Good summer weather was a boost to consumer spending and construction activity.
This first declaration of quarterly GDP now includes a breakdown of expenditure that we expect to show to home use and investment is the main contributors to third quarter growth.
In the middle of a square of data at 9.30am, we will also learn how well there were factories and sector companies in the British services and exporters in September.
But strong performance will not set all the economic challenges of Britain. The City fears growth is slowing down in the current quarter, such as slash investment schemes for former Brexit companies.
Yesterday, the European Commission predicted that Britain would grow to the bottom of the European growth league next year, even after the soft EU departure.
- 9.30am GMT: UK CMC for the third quarter of 2018
- 9.30am GMT: UK trade balance for September
- 9.30am GMT: UK industrial production for September
- 9.30am GMT: UK services index for September
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