The British economy surprised Thursday with a better-than-expected set of growth figures for the third quarter – the first set of figures that measured the impact of the U.K.'s Brexit vote.
The U.K.'s gross domestic product (GDP) rose at 0.5 percent quarter-on-quarter in the three months to September. This was above a consensus forecast of 0.3 percent.
The yearly rate also beat expectations growing at 2.3 percent compared to a consensus estimate of 2.1 percent.
Phillip Hammond, the U.K. finance minister, said Thursday's figures proved that the fundamentals of the U.K. economy were strong. Sterling strengthened against the euro increasing by 0.13 percent following the data release.
"The number came better than expected. But manufacturing and industrial sector have performed badly and this is what we want to emphasize," Naeem Aslam, chief market analyst at Think Markets said in a note.