"We know that the British economy recovered faster from the pandemic than anyone previously thought and data out today once again proves the doubters wrong," finance minister Jeremy Hunt said.
And that's before the full drag from higher interest rates has been felt," said Ruth Gregory, deputy chief UK economist at Capital Economics.
The upward revisions were concentrated in 2020 and 2021, during the height of the pandemic and immediate aftermath.
Growth in 2021 was revised to 8.7% from 7.6%, while the size of 2020's historic slump was reduced to 10.4% from 11.0%, in line with preliminary guidance on Sept. 1.
Growth in 2022 was revised up to 4.3% from 4.1%.
Persons:
Rachel Adams, Jeremy Hunt, Ruth Gregory, Thomas Pugh, Capital's Gregory, David Milliken, Andy Bruce, William James, Toby Chopra
Organizations:
Oxford, REUTERS, National Statistics, European Union, Capital Economics, The Bank of England, RSM, Reuters Graphics Reuters, ONS, Thomson
Locations:
Britain, London, Germany, France, United States, Japan, Italy, Canada, Ukraine