UK economy: recovery from recession continues at a slower pace Go compare with our comparison table

UK economy: recovery from recession continues at a slower pace

26 October 2010 / by Paul Dicken

The UK economy grew by 0.8 per cent in the third quarter of 2010, less than the previous quarter but double the rate of some estimates.

Publishing data showing gross domestic product had continued to grow, albeit at a slower rate than the previous three months, the Official for National Statistics said the UK was continuing ‘its path of recovery from recession’.

Some estimates had put growth at 0.4 or 0.5 per cent for the three months to September. The ONS said growth in services, construction and production had contributed to overall growth.

Production output rose 0.6 per cent, with manufacturing growing one per cent, down from 1.6 per cent in the previous quarter.

The ONS said: “GDP has recovered about half of the output lost during the recession. In the past two recessions it took just over three years for output to reach pre-recession level.”

The ONS said the labour market ‘continued to show resilience’ with employment levels growing by 184,000 jobs in the second quarter of 2010, but this masked the different situations between the type of work employees were doing.

The stronger growth in the second quarter was partly attributed to the ‘bounce back from the effect of adverse weather’ in the first part of 2010, particularly in construction.

In the labour market, from the third quarter of 2009 to the second quarter of 2010, total employment rose by 0.4 per cent (120,000), but this has been driven by part-time and temporary workers.

Part-time jobs grew by 2.3 per cent, while full-time jobs have fallen by 0.3 per cent.

© Fair Investment Company Ltd
 

 Product NameISA OptionIncome YieldMore Info
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Income Paid Quarterly. Investing in higher yielding assets which will include most types of fixed interest securities, this fund aims to deliver a quarterly income to investors. See latest fund factsheet for details.
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Income Paid Quarterly.The objective of the Sub-Fund is to achieve income together with long-term capital growth predominantly through investments in securities in Asia Pacific ex Japan (including Australia & New Zealand) region. The Sub-Fund may also invest in collective investment schemes. See latest fund factsheet for details.
Newton Higher Incomeyes5.4%More Info >
Income Paid Quarterly. The objective of the Fund is to achieve increasing distributions on a calendar year basis with long term capital growth. The Fund may also invest in collective investment schemes. See latest fund factsheet for details.
Invesco Perpetual Distributionyes4.7%More Info >
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Invesco Perpetual Monthly Income Plusyes4.46%More Info >
Income Paid Monthly. Popular income fund that aims to achieve a high level of income whilst seeking to maximise total return through investing in high yielding corporate and Government bonds, together with UK equities. See latest fund factsheet for details.
Woodford Equity Income Fundyes3.50%More Info >
Our selected partner for investing in Neil Woodford's Equity Income fund is Barclays Stockbrokers, via their INVESTMENT ISA for new ISAs and ISA transfers, or their MARKETMASTER® ACCOUNT for non-ISA investments. Income Paid Quarterly.The fund’s investment objective is to provide investors with long-term appreciation through investing in stocks primarily listed on the UK stock exchanges. Up to 20% may be invested in international companies. The income objective is 10% higher than the FTSE All Share Index yield with an anticipated annual yield of 4.0%.
Newton Global Higher Income yes4.7%More Info >
Income Paid Quarterly. The objective of the Sub-Fund is to achieve increasing annual distributions together with long-term capital growth from investing predominantly in global securities. The Sub-Fund may also invest in collective investment schemes. See latest fund factsheet for details.
Jupiter Merlin Income Portfolioyes3.10%More Info >
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M&G Global Dividendyes3.27%More Info >
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Kames Strategic Bond yes2.95%More Info >
The primary investment objective is to maximise total return (income plus capital ) by investing in global debt instruments,denominated in any currency, ranging from AAA Government Bonds through to high yield and emerging market corporate bonds. At least 50% of the fund will be invested in sterling and other currency denominated bonds hedged back to sterling. See latest fund factsheet for details.
M&G Optimal Incomeyes2.44%More Info >
Income Paid Twice Yearly.The fund aims to provide a total return to investors based on exposure to optimal income streams in investment markets. The fund invests across a broad range of fixed income assets according to where the fund manager identifies value. See latest fund factsheet for details.
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