Q3 GDP figures to be published tomorrow

The initial reading of third quarter economic growth will be published tomorrow by the Office for National Statistics (ONS).

Economists expect growth to slow to 0.4% in the July to September period – down from 1.2% in the second quarter.

However, tomorrow’s estimate is the first of three and could be revised upwards or downwards in the coming months since at this stage, only 40% of the data is available.

Economic growth is expected to be severely hampered over the next few quarters due to the Government’s massive spending cuts.

The spending cuts have received mixed responses; many have been critical of them warning that slashing the deficit too quickly could pose a threat to economic recovery and push the UK back into a recession.

However, all experts agree that growth will be hampered as a result of the cuts and the Bank of England will carefully have to monitor monetary policy, in order to avoid a double dip recession.

The ONS will publish the figures at 9.30am tomorrow.

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