UK Economy Grows 0.7% in Third Quarter Despite High Oil and Gas Prices

The UK economy grew by 0.7% in the three months to September, according to official figures reported by BBC News. The BBC headline described the growth as the "fastest rate for more than two years."

The Guardian reported that the 0.7% growth in the third quarter matched what City analysts had expected, and that consumers and businesses remained resilient despite high oil and gas prices.

In the same report, The Guardian said the Office for National Statistics also reported that GDP rose 0.2% month on month in September. The newspaper said this was a boost to the chancellor, John Healey.

According to The Guardian, the Office for National Statistics said a jump in the cost of petrol, diesel and natural gas prices followed a re-escalation. The available summary of that report does not identify the re-escalation.

The two reports differ in emphasis. The Guardian links the growth to high oil and gas prices and reports the separate monthly figure for September. The BBC summary gives the growth rate and period without naming an agency and without mentioning energy prices.

Both outlets describe the same period, which The Guardian calls the third quarter and BBC News describes as the three months to September. Neither available summary includes forecasts for later periods, and the sources do not say whether the 0.7% figure differs from any earlier estimate.

Sources: The Guardian: UK economy grows by 0.7% in third quarter despite high oil prices; BBC News: UK economy grows at fastest rate for more than two years.