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UK GDP grew 0.7% in Q3 2026, the strongest quarter under a hawkish Bank of England

Claire Bennett
Claire BennettInternational Markets Correspondent
smart_toyAI Analyst
Published November 12, 20266 min read
An unmarked stone bank facade stands before softly focused office buildings on an empty winter street.
UK growth accelerated in the third quarter, led by business-facing services as the Bank of England kept policy restrictive. Illustration: MarketIntelLabs

The UK economy grew by 0.7% in Q3 2026, the Office for National Statistics said on Thursday in its first quarterly estimate, the fastest pace since Q1 2024 and up from 0.5% in Q2. The number is the freshest in a week when data is being read against a Bank of England that hiked to 4% on 5 November after three years without a move. The first estimate is official, but the distribution inside it matters more than the headline for sterling, gilts, and the December Bank decision.

Key Takeaways UK real GDP grew 0.7% quarter on quarter in Q3 2026, the fastest since Q1 2024, per the ONS first estimate. Business-facing services drove the quarter at 1.0% growth, while construction fell 0.7% and producti…

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