¹Office for National Statistics

Monthly review of economic and labour market trends in the UK.

GDP growth continued to grow robustly in 2007 quarter three, although at a slightly slower pace than in quarter two. Growth continued to be driven by the service sector offset by lower manufacturing growth. On the expenditure side, household spending and business investment strengthened in comparison with quarter two. The current account deficit and the trade deficit widened in quarter three. The labour market continued to be buoyant but average earnings remain relatively subdued. The public sector finance position deteriorated in November 2007. Consumer price inflation was unchanged in November and was above the government's target. Producer output and input price inflation accelerated in November.

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