Consultancy leads UK growth as AI appetite surges amongst businesses

Consultancy services played a significant role in driving UK economic growth during the third quarter, as firms increased their demand for AI and technology-related services. The Office for National Statistics (ONS) reported a 0.7% growth in the economy between July and October, with the consultancy and computer programming industries being the top contributors to GDP growth in 2026.

The information and communications sector saw a 2.1% increase in the third quarter, with consultancy, computer programming, and related activities growing by 4.4%.

Tamzen Isacsson, chief executive of the Management Consultancies Association (MCA), highlighted the importance of consulting to the UK economy, stating that client demand for digital transformation, AI, and cyber security advisory services has driven a 6% increase in fee income this year. AI is increasingly becoming a significant growth area, as organizations move beyond experimentation and seek practical support to deploy the technology effectively and achieve measurable benefits.

Dean Hughes, head of consulting and digital at MHA, noted that the firm has seen organizations across various sectors investing in technology, data, and AI solutions, with advisers helping them implement and manage the risks associated with the technology. The past quarter has been the busiest for MHA's consulting and digital service line.

Accountancy and legal sector revenues also experienced a significant rebound in the third quarter. The ONS reported accounting industry revenues rising by 13% in September to £4.25bn, up from £3.75bn in August. Julie Matheson, accounting industry regulatory partner at Kingsley Napley, attributed this growth to the broader positive performance of the UK economy, despite ongoing challenges such as the Iran situation, rising inflation, interest rates, and the impact of AI on business models.

Similarly, the legal industry saw revenues increase by 15.5% in September to £5.35bn, up from £4.63bn in August, according to the ONS' monthly business survey.