U.K. 3Q GDP Revised Down Unexpectedly

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The British economy grew less than expected in the third quarter, the Office for National Statistics [ONS] reported Wednesday, saying gross domestic product [GDP] grew 0.7 percent from the prior quarter, revised down from a previously estimated 0.8 percent.

GDP in the third quarter grew 2.7 percent from the same period a year ago, down from a previously estimated 2.8 percent.

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Economists had expected growth rates to be unchanged on a quarterly and annual basis in the government's final GDP estimate.

The trade deficit in real terms remained unrevised for the third quarter at £9.7 billion ($15 billion).

xports of goods and services rose 1.5 percent while imports rose 1.7 percent.

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