UK GDP grows by 0.5pc in Q3

Growth during the second quarter of 2011 was only 0.1% in comparison which the ONS attributed to a number of one-off factors such as the extra bank holiday for the royal wedding.

As a result, analysts said the third quarter figures should not be interpreted as a big economic rebound.

Amit Kara, analyst at UBS, said: “GDP was in line with our forecasts but it should be seen as a backwards looking indicator. The bounce back is due to a relatively weak holiday affected second quarter.”

The ONS said the riots in August did not have a noticeable effect on the overall GDP figure.