The U.K. economy grew at a slower pace in the third quarter, preliminary estimates from the Office for National Statistics Office showed Friday.

Gross domestic product climbed 0.7 percent from the second quarter, when it grew 0.9 percent. The sequential growth rate matched economists' expectations.

As expected, GDP was 3 percent higher in the third quarter compared with the same quarter a year ago. GDP was estimated to be 3.4 percent higher than the pre-economic downturn peak of the first quarter of 2008.

The production-side approach showed that the dominant service sector expanded 0.7 percent on quarter, slower than the 1.1 percent rise seen in the second quarter.

Production and construction climbed 0.5 percent and 0.8 percent, respectively. At the same time, agriculture gained 0.3 percent.

Another report today showed that the Index of Services increased by 3.1 percent in August from last year. All of the four main components of the services industries increased compared with the same month a year ago.

RTTNews