UK economy grows by 0.7% in third quarter despite high oil prices
The Guardian reports UK GDP grew 0.7% in the third quarter, in line with City forecasts, though the Office for National Statistics said rising petrol, diesel and natural gas costs after the Middle East conflict re-escalated restricted growth, and it revised August's expansion to zero. The article adds that Bank of England policymakers raised rates to 4% and judges the Office for Budget Responsibility's 1.2% forecast out of date as growth keeps beating expectations.
