UK Politics

Conservative Party: Double dose of good news for the British economy

News   •   Oct 27, 2010 12:27 BST

The UK grew 0.8% in the three months to September, according to figures released by the Office of National Statistics.

Following strong growth in the second quarter, this represents the strongest 6-month growth figure for over 10 years.

On the same day as the GDP figures beat analysts' expectations, credit rating agency Standard & Poor's revised the UK's AAA rating from negative to stable.

Praising the government's actions to put Britain's public finances "on a more sustainable footing", the agency said that "the coalition government's policy objective to close the fiscal gap further underpins the ratings."

Welcoming both pieces of news, Chancellor George Osborne said:

"This is a double dose of good news for the British economy. In an uncertain global economy this will help to underpin confidence in the recovery."