{"text":[[{"start":7.644,"text":"Britain’s tech sector is growing at its fastest pace in nearly half a decade, helping underpin the surprising resilience of the UK economy, according to FT analysis of official statistics."}],[{"start":19.346,"text":"A measure of tech and AI-related activity increased by 10 per cent in the three months to September, compared with a year earlier, the fastest pace in four and a half years."}],[{"start":29.795,"text":"Analysts and industry experts said growing adoption of AI was helping underpin the growth, stoking optimism that there could be improvements ahead in the UK’s pedestrian productivity."}],[{"start":40.244,"text":"Technology has emerged as one of the key bright spots of the UK economy, which has continued to show moderate growth despite the impact of higher energy prices and interest rates."}],[{"start":51.46,"text":"Overall GDP grew 1.9 per cent in the three months ended September compared with a year earlier, Office for National Statistics figures showed on Thursday."}],[{"start":60.24,"text":"The strength of the economy has wrongfooted economists, who predicted earlier this year that the UK would enter a familiar pattern of weaker second-half growth given the pressure on households and businesses from accelerating inflation."}],[{"start":null,"text":"
"}],[{"start":73.748,"text":"In the third quarter, output in tech-related industries expanded at a year-on-year rate of 10 per cent, according to FT analysis of ONS data published on Thursday."}],[{"start":83.918,"text":"The measure of tech activity comprises computer programming, consultancy and related activities, information services, publishing activities and manufacture of computer electronics and optical products."}],[{"start":96.044,"text":"The sectors together accounted for about a quarter of growth in the year to the third quarter of 2026. The strong performance came even after a monthly decline in computer programming in the month of September alone."}],[{"start":109.58,"text":"“The upside surprise in growth this year is attributable to strong business investment and business-to-business services — much of it associated with the AI boom,” said Krishna Guha, vice-chair at Evercore ISI."}],[{"start":121.6,"text":"Antony Walker, deputy chief executive at lobby group TechUK, said the sector’s growth in recent quarters had been aided by “broad business investment in AI” plus some knock-on impact from spending on tech-related infrastructure."}],[{"start":135.137,"text":"“There was a period when they were dipping their toes into the world of AI. We have got past that now,” he said."}],[{"start":140.79,"text":"Within the measure of tech activity, manufacture of electronic and optical products grew at a year-on-year rate of 8 per cent in the third quarter, the fastest since the fourth quarter of 2023."}],[{"start":151.52,"text":"“The UK may not be a chip manufacturing powerhouse internationally, but the AI rollout will come with an overhaul of IT systems and generally a rethink of business processes and structures,” said Sandra Horsfield, economist at the bank Investec."}],[{"start":167.478,"text":"“Tentative though the evidence is, it looks like UK firms are taking their share of this growing pie.”"}],[{"start":172.72,"text":"The Bank of England has been seeking to track the contribution of AI to the economy, as it weighs the outlook for productivity. It said last week that, adjusting for long-term trends, AI-related activity accounted for just under a fifth of economic growth in the current year until August."}],[{"start":188.32,"text":"However, strong tech growth has not been accompanied by a widespread expansion in job opportunities."}],[{"start":195.25,"text":"Job openings fell 2.9 per cent to 691,000 in the three months to September compared with the previous three months, according to the ONS. This was the first time that openings had been below 700,000 since early 2021."}],[{"start":209.382,"text":"The ONS is due to release its latest report on the jobs market next week."}],[{"start":214.326,"text":"Data visualisation by Keith Fray in London"}],[{"start":221.33,"text":""}]],"url":"https://audio.ftcn.net.cn/album/a_1794556173_3289.mp3"}