What is GDP?published at 06:24 GMT
The figures being published today are for GDP – Gross Domestic Product.
GDP measures how much is produced, how much is spent and how much is earned in a country’s economy over time.
In the UK, new GDP figures are published every month by the Office for National Statistics (ONS).
The ONS measures GDP by taking into account the UK’s output, its expenditure, and its income – but this can sometimes hide details on important aspects of living standards like inequality and living standards.
Most economists, politicians, and businesses like to see GDP growing steadily – that means people are spending more, more jobs are being created and more tax is being paid.
If GDP falls for two quarters in a row, this is known as a recession, which can lead to pay freezes and job losses.
In August, the figures showed that the economy grew by 0.3% between April and June – better than economists had expected. We were also told growth had slowed from 0.7% in the first three months of the year to 0.3% in the second quarter.