CONCERNS about the UK economy's recent poor performance eased yesterday after revised third-quarter figures showed that gross domestic product (GDP) rose higher than original estimates.

The Office for National Statistics (ONS) said GDP rose by 0.5 per cent in the three months to the end of the September, compared with a previous estimate of 0.4 per cent.

The original ONS figures showed the weakest performance by the UK economy in more than a year.

A poor period for the industrial sector, where output slipped by 1.3 per cent, was blamed for the overall quarter-on-quarter fall, which the ONS said represented the worst three months for the UK economy since the summer of last year.

Analysts expect the economy to show an improvement in the final quarter of the year, with a return of 0.7 per cent and 3.2 per cent across the calendar year.

The improved news from the third quarter was offset by separate ONS figures showing the UK's current account deficit widened to £8.8bn, against a figure of £5.8bn in the second quarter.

The deterioration, which was attributed to more investment income going to overseas investors, included a deficit of £6.4bn with EU countries, compared with a figure of £5.7bn in the previous three months.

The Halifax said the UK economy had grown for 50 successive quarters, covering the period from the second quarter of 1992.