Tuesday, October 11, 2011
A modest rise in Q3 GDP
Posted by David Smith at 03:00 PM
Category: Thoughts and responses

The National Institute of Economic and Social Research says GDP rose by 0.5% in the third quarter, following the release of industrial production figures for August. These showed manufacturing down by 0.3% but overall industrial production up 0.2%. Industrial production, which matters for GDP, was about 0.3% up on its Q2 average in August.

The National Institute is not popping the champagne corks. It says: "UK economic growth over the past year has been anaemic; the level of output is only 0.5 per cent higher than this time last year. The level of GDP is still 4 per cent below its pre-recession peak, suggesting that this recovery will be the weakest of any since the end of the First World War." Its release is here.