UK growth at fastest pace in three years

UK economic growth accelerated to its fastest pace in more than three years in the third quarter as the recovery continued across all main industries.

Gross domestic product rose 0.8%, up from 0.7% growth between April and June and the most since the second quarter of 2010, said the Office for National Statistics. The increase was in line with the median of 40 forecasts in a Bloomberg News survey.

Bank of England governor Mark Carney presents new quarterly forecasts on Nov 13 and there are growing expectations officials will concede interest rates may have to increase earlier than forecast in August as momentum builds.