Great Britain: British economy is increasing in growth

British GDP grew by 0.7 percent in the third quarter compared to the previous quarter. That is slightly more than in the previous months. The British central bank sees this as a key growth driver.

London. The British economy accelerated its pace of growth in the summer. The gross domestic product (GDP) increased by 0.7 percent from July to September compared to the previous quarter, as the ONS statistics office announced on Thursday. Experts interviewed by Reuters had expected this.

GDP grew by 0.5 percent from April to June. In the first quarter there was even an increase of 0.6 percent. The British economy was the fastest growing among the seven major industrial nations (G7) in the first half of 2026.

The industrialized nations organization OECD expects the United Kingdom to achieve an increase in GDP of 1.1 percent for the current year. This was justified by robust consumption. Risks are seen, among other things, in the stubbornly high inflation.

The British central bank recently responded to the persistently strong rise in prices with the first interest rate increase in three years. At the same time, it raised its growth forecast and now expects growth of 1.6 percent for 2026. The better prospects can also be attributed to the boom in artificial intelligence (AI).