The growth for British economy exceeded expectation in the third quarter. The news would definitely help in decreasing the fears of the economic recovery slowing down.  The Finance Minister of UK, George Osborne stated that the news provided him with the surety that the economy was on a healthy way to recovery.

However, despite the positive signs, economists have expressed fears about the economy, as they feel that a slowdown was definitely on the cards next year.

According to the data released by the Office for National Statistics, the British economy swelled by 0.8% for the third quarter ending in the month of September. Though, the economy was 0.4% down in contrast to the 1.2% growth recorded in the second quarter. Yet, the current growth was remarkable, especially after the forecasts that had been made earlier.

Apart from growth, the economy delivered great news in other statistics as well. The Gross Domestic Product for the nation grew by 2.8%, a three-year high. In comparison, the GDP had been recorded at 1.8% in the second quarter.

Apart from the economic point of view, political circles have been skeptical about the spending cuts being placed by the Government. A vast number of politicians and economists have felt that the spending cuts might just be too fast and too drastic, for a recovering economy.