UK economic growth quickens in three months to August

The pace of Britain’s economic recovery picked up slightly in the three months to August, the National Institute of Economic and Social Research (NIESR) said on Tuesday.

The think tank estimated gross domestic product rose 0.6 per cent from June through August, compared with 0.5 per cent growth from May to July, which was reduced from a previous estimate of 0.6 per cent.

NIESR said it would incorporate changes to the way the Office for National Statistics calculates gross domestic product into its estimate next month, after the ONS releases its complete revised series of national accounts.

The ONS is revamping how it calculates the size of Britain’s economy, reflecting European Union-wide changes. Last week, it published new estimates of gross domestic product from 1998 to 2012.

Reuters