GDP on the rise, ONS reports

Date: 31st August 2010

Small business owners operating in a number of UK industries could be encouraged by recent figures suggesting economic stability.

The latest report from the Office for National Statistics (ONS) have revealed that GDP increased by 1.2 per cent in the UK in the last quarter.

This revised figure paints a slightly more optimistic picture than the 1.1 per cent originally reported by the ONS in July.

According to the figures, the 1.2 per cent growth represents the fastest quarterly increase recorded for more than nine years.

The report highlighted the production and manufacturing sectors as among those to record stability over the past three months.

"Production output rose by one per cent in quarter two, which is the same as the increase in the previous quarter," the ONS said.

"Manufacturing output rose by 1.6 per cent in 2010 quarter two, compared with a rise of 1.4 per cent in the previous quarter."

Posted by Emily Smith