The U.K. economy expanded by more than initially estimated in the third quarter, according to the latest official figures published Thursday, but the nation's current account deficit widened to the largest ever recorded.
The Office for National Statistics said gross domestic product expanded 0.6% in the third quarter compared with the second, against a previous estimate of 0.5%. When compared with the year earlier, growth was unrevised at 0.5%.
The ONS said fresh data showed agriculture and construction contributed more than initially thought to the nation's third-quarter output.
However, latest estimates show second-quarter output was flat compared with the previous three months, compared with a previous estimate of expansion of 0.1%. Second-quarter construction output was lower than first thought, the ONS said.
Also Thursday, the ONS said the U.K.'s current account deficit widened to £15.2 billion ($23.83 billion) in the third quarter, from a revised £7.4 billion in the second. That is the biggest current account deficit since records began in 1955, the ONS said, adding that the record deficit was caused by a wider goods trade deficit and a fall in U.K. companies' earnings overseas.
Business investment in the third quarter rose 0.3% on the three previous months, to £30.1 billion, driven by investment by manufacturers.
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