The United Kingdom may have pulled out of a downward economic cycle. At least that is what official government data shows. For the third quarter of this year, gross domestic product rose 1% compared with the second quarter.
The only dark spot was construction, where economic activity fell 2.5%. Based on this, the U.K. is no different from any other large developed economy that is still staggered by real estate problems - both commercial and residential.
The preliminary data from the Office of National Statistics:
Douglas A. McIntyre
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