{
  "id": 19635437,
  "title": "AI spending helps lift UK growth to fastest since early 2024",
  "url": "https://urgent.news/2026/11/12/ai-spending-helps-lift-uk-growth-to-fastest-since-early-2024",
  "topic": "ai",
  "section": "AI",
  "published": "2026-11-12T10:01:37.000Z",
  "source": {
    "name": "Investing.com",
    "slug": "investing-com",
    "url": "https://www.investing.com/news/economy-news/uk-economy-grows-07-in-q3-ons-data-shows-5020475"
  },
  "original_language": "en",
  "account": "Britain's economy expanded at its fastest pace in over two and a half years in the third quarter of 2026, driven by investment in artificial intelligence, according to the Office for National Statistics. GDP grew by 0.7% in the July-to-September period, up from 0.5% in the previous quarter and the strongest calendar quarter expansion since early 2024. The annual growth rate increased to 1.9%, the strongest reading since the fourth quarter of 2024, while on a three-month rolling basis, growth was the fastest since May. While economists had expected a flat output in September, figures showed a 0.2% increase, bucking expectations. This robust growth places Britain among the top performers in the Group of Seven advanced economies, just behind the United States. The expansion has been particularly strong in industries related to AI, with computer programming, consultancy, and computer manufacturing making significant contributions. Despite expectations of a slowdown due to higher energy prices and borrowing costs, the Bank of England recently upgraded its growth projection for 2026, now forecasting expansion of 1.6% for the year, compared to the 1.2% forecast by the government. The central bank attributes some of the growth to AI spending and a small, temporary boost from the government's fiscal plan. However, factors such as nervousness ahead of the Autumn Budget, ongoing uncertainty from the Middle East conflict, and concerns over consumer and business demand could weigh on future GDP readings. Official data indicated a decline in retail sales volumes and a sharp drop in consumer confidence in September. Although the Prime Minister and the Chancellor welcomed the data, it may pressure the Bank of England to raise interest rates again. The central bank warns that inflation could reach 5% in 2027, and investors see a 73% chance of two consecutive rate hikes in December, following an increase in November and potentially two or three more next year.",
  "summary": null,
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}