The U.K. economy grew slightly less than initially estimated in the third quarter, the Office for National Statistics said Wednesday.
Gross domestic product climbed 0.4 percent from the second quarter, which was revised down from 0.5 percent estimated previously.
On a yearly basis, growth was revised down to 2.1 percent from 2.3 percent.
In the production side, the dominant service sector climbed 0.6 percent versus prior estimate of 0.7 percent. Construction output dropped 1.9 percent instead of 2.2 percent.
Production output was up 0.2 percent, which was left unrevised from previous estimate.
Another report from the ONS showed that the index of services expanded 2.1 percent in October from last year. Month-on-month, services output edged up 0.1 percent in October following a 0.5 percent increase in September.
The index of services increased 0.6 percent in the third quarter compared with the second quarter.
In a separate communique, the current account deficit remained unchanged at GBP 17.5 billion. The deficit equated 3.7 percent of GDP.
According to ONS, gross fixed capital formation climbed GBP 0.6 billion or 0.7 percent, to GBP 77.4 billion in the third quarter. This was the highest level since the fourth quarter of 2007.
Business investment was estimated to have increased by GBP 1.0 billion, compared with the previous quarter, to GBP 44.6 billion, the ONS said.
On a yearly basis, GFCF grew 3.4 percent and business investment rose 5.8 percent.
The ONS today reported that labor productivity as measured by output per hour grew by 0.5 percent in the third calendar quarter to the highest level ever recorded for this series.
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