Instant View - Q3 GDP up 1 percent q-o-q, down 0.1 percent y-o-y

LONDON (Reuters) - Britain's economy grew 1 percent in the third quarter as originally estimated, data showed on Tuesday, although that strength is unlikely to be sustained.

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KEY FIGURES FOR SECOND ESTIMATE OF Q3 GDP

(previous estimates in brackets)

Q3 2012 Q2 2012 F'CAST

GDP AT MARKET PRICES (constant prices) pct change q/q 1.0 (1.0) -0.4 (-0.4) 1.0 pct change y/y -0.1 (UNCH) -0.5 (-0.5) UNCH

IMPLIED GDP DEFLATOR AT MARKET PRICES Pct change q/q 0.3 1.4 (1.4) Pct change y/y 2.9 2.7 (2.7)

KEY POINTS

- Biggest quarterly rise in industrial production output since Q2 2010

- Biggest quarterly rise in services output since Q3 2007

- Biggest quarterly rise in household expenditure since Q2 2010

ECONOMIST VIEWS

ROB WOOD, BERENBERG BANK

"This is obviously good news that the economy grew in Q3, but the underlying picture is that UK growth remains fragile. The good news from the third quarter is unlikely to last with the one-off boost from the Olympics unwinding in the fourth quarter and business surveys downbeat, a return to contraction is likely, bringing with it talk of a triple-dip."

(Reporting by UK economics team)

Source: http://news.yahoo.com/instant-view-q3-gdp-1-percent-q-o-094829867--business.html

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