U.K. Q3 Economic Growth Beats Forecast

U.K. Q3 Economic Growth Beats Forecast

The United Kingdom's economy rebounded into growth in the third quarter beating expectations, supported by the Olympic games support and accelerating services growth.

Gross domestic product in the U.K. advanced unexpectedly by 1.0 percent in the third quarter, following a decline of 0.4 percent in the second quarter, beating analysts` median estimate of 0.6 percent gain.

From a year earlier, GDP rose to 0.0 percent from -0.5 percent and expected.

The U.K. returned to growth on the quarter with 1.0% expansion following three consecutive quarterly contractions, positing the fastest quarterly growth in five years.

The positive data dimmed expectations for a move from the BoE in November and a direct decision to expand the asset purchases as the latest extension announced in July expires this month.